Brokerages Set Flushing Financial Corporation (FFIC) Price Target at $29.00
Shares of Flushing Financial Corporation (NASDAQ:FFIC) have earned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.00.
FFIC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, August 28th. Piper Jaffray Companies reiterated a “hold” rating and set a $30.00 target price on shares of Flushing Financial Corporation in a research report on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $30.00 target price on shares of Flushing Financial Corporation in a research report on Sunday, October 8th.
In other Flushing Financial Corporation news, Director John E. Sr Roe, Sr. sold 3,629 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $26.98, for a total value of $97,910.42. Following the transaction, the director now owns 66,434 shares in the company, valued at approximately $1,792,389.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Sr Roe, Sr. sold 7,429 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $27.06, for a total value of $201,028.74. Following the completion of the transaction, the director now owns 66,434 shares in the company, valued at approximately $1,797,704.04. The disclosure for this sale can be found here. Insiders have sold a total of 14,058 shares of company stock worth $380,929 in the last quarter. Insiders own 4.86% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FFIC. SG Americas Securities LLC purchased a new position in Flushing Financial Corporation in the 3rd quarter valued at $135,000. BNP Paribas Arbitrage SA lifted its holdings in Flushing Financial Corporation by 277.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock valued at $136,000 after purchasing an additional 3,553 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Flushing Financial Corporation in the 2nd quarter valued at $221,000. Legal & General Group Plc lifted its holdings in Flushing Financial Corporation by 20.8% in the 1st quarter. Legal & General Group Plc now owns 10,239 shares of the bank’s stock valued at $276,000 after purchasing an additional 1,761 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Flushing Financial Corporation by 2.4% in the 2nd quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock valued at $284,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 76.98% of the company’s stock.
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Shares of Flushing Financial Corporation (NASDAQ FFIC) traded up $0.54 during midday trading on Friday, hitting $28.35. 229,788 shares of the stock were exchanged, compared to its average volume of 58,370. The firm has a market cap of $799.75, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.62 and a beta of 1.11. Flushing Financial Corporation has a twelve month low of $24.27 and a twelve month high of $31.96. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.23.
Flushing Financial Corporation (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, October 31st. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). Flushing Financial Corporation had a return on equity of 9.04% and a net margin of 19.50%. The firm had revenue of $44.70 million for the quarter. equities analysts forecast that Flushing Financial Corporation will post 1.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.54%. Flushing Financial Corporation’s dividend payout ratio (DPR) is 42.11%.
About Flushing Financial Corporation
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’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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