Flushing Financial Corp. (FFIC) Sees Unusually-High Trading Volume
Flushing Financial Corp. (NASDAQ:FFIC) shares saw unusually-high trading volume on Wednesday . Approximately 123,395 shares changed hands during trading, an increase of 122% from the previous session’s volume of 55,478 shares.The stock last traded at $23.19 and had previously closed at $23.58.
FFIC has been the subject of a number of research analyst reports. Gabelli initiated coverage on shares of Flushing Financial Corp. in a research note on Wednesday, June 29th. They set a “buy” rating and a $27.00 price objective for the company. Zacks Investment Research raised shares of Flushing Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of Flushing Financial Corp. from $21.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Finally, Sandler O’Neill downgraded shares of Flushing Financial Corp. from a “buy” rating to a “hold” rating and upped their price objective for the company from $23.00 to $24.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $24.20.
The stock has a market capitalization of $673.00 million and a price-to-earnings ratio of 10.73. The stock has a 50 day moving average price of $22.10 and a 200 day moving average price of $21.04.
Flushing Financial Corp. (NASDAQ:FFIC) last announced its earnings results on Tuesday, July 26th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $79.61 million for the quarter, compared to the consensus estimate of $43.87 million. During the same period in the prior year, the business earned $0.36 EPS. The company’s quarterly revenue was up 65.5% compared to the same quarter last year. On average, equities analysts expect that Flushing Financial Corp. will post $1.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.93%.
In related news, Director John E. Sr Roe, Sr. sold 10,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $22.35, for a total value of $223,500.00. Following the completion of the transaction, the director now owns 75,634 shares in the company, valued at approximately $1,690,419.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Davison Bennett sold 7,850 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $22.42, for a total value of $175,997.00. Following the completion of the transaction, the director now owns 79,183 shares of the company’s stock, valued at approximately $1,775,282.86. The disclosure for this sale can be found here.
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank owns three subsidiaries: Flushing Preferred Funding Corporation (FPFC), Flushing Service Corporation, and FSB Properties Inc (Properties).