Flushing Financial (NASDAQ:FFIC) Price Target Lowered to $13.00 at Keefe, Bruyette & Woods

Flushing Financial (NASDAQ:FFIC) had its target price trimmed by Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Flushing Financial from a hold rating to a sell rating in a report on Thursday. DA Davidson cut their price target on Flushing Financial from $17.00 to $13.50 and set a neutral rating for the company in a report on Tuesday, March 5th. Finally, Raymond James raised their price target on Flushing Financial from $17.00 to $19.00 and gave the company an outperform rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $15.17.

Flushing Financial Trading Down 0.1 %

NASDAQ FFIC opened at $11.37 on Friday. The company has a market cap of $330.53 million, a PE ratio of 11.37 and a beta of 0.73. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.26. Flushing Financial has a 12 month low of $9.28 and a 12 month high of $18.00. The stock has a 50 day moving average of $12.25 and a 200-day moving average of $13.80.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $112.58 million during the quarter, compared to analyst estimates of $47.12 million. Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. During the same period in the previous year, the company posted $0.10 EPS. On average, equities research analysts anticipate that Flushing Financial will post 0.71 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 7.74%. The ex-dividend date of this dividend was Friday, March 8th. Flushing Financial’s dividend payout ratio is 88.00%.

Insider Buying and Selling at Flushing Financial

In other Flushing Financial news, EVP Francis W. Korzekwinski sold 7,649 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total transaction of $96,453.89. Following the completion of the sale, the executive vice president now owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flushing Financial news, EVP Francis W. Korzekwinski sold 7,649 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total transaction of $96,453.89. Following the transaction, the executive vice president now owns 73,493 shares in the company, valued at approximately $926,746.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Buonaiuto sold 19,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total value of $250,990.00. Following the transaction, the executive vice president now owns 32,391 shares in the company, valued at approximately $427,885.11. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Flushing Financial by 72.4% in the third quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock worth $209,000 after purchasing an additional 6,697 shares during the period. Bank of New York Mellon Corp increased its position in shares of Flushing Financial by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 211,705 shares of the bank’s stock worth $2,780,000 after purchasing an additional 3,922 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in shares of Flushing Financial in the third quarter worth $149,000. Gamco Investors INC. ET AL increased its position in shares of Flushing Financial by 1.1% in the third quarter. Gamco Investors INC. ET AL now owns 1,158,402 shares of the bank’s stock worth $15,210,000 after purchasing an additional 12,602 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Flushing Financial by 0.7% in the third quarter. Gabelli Funds LLC now owns 490,439 shares of the bank’s stock worth $6,439,000 after purchasing an additional 3,376 shares during the period. Institutional investors own 67.10% of the company’s stock.

Flushing Financial Company Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.