Flushing Financial (NASDAQ:FFIC) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Flushing Financial Corporation (NASDAQ:FFIC)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.16 and traded as high as $15.62. Flushing Financial shares last traded at $15.56, with a volume of 454,723 shares.

Analyst Ratings Changes

Several research firms recently commented on FFIC. Wall Street Zen downgraded Flushing Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Raymond James Financial downgraded shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 31st. Zacks Research cut shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Flushing Financial in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Flushing Financial Stock Down 0.8%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market cap of $521.56 million, a P/E ratio of -12.97 and a beta of 0.81. The company’s 50 day moving average price is $16.04 and its two-hundred day moving average price is $14.20.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Wednesday, October 29th. The bank reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Flushing Financial had a negative net margin of 6.93% and a positive return on equity of 4.98%. The business had revenue of $58.57 million during the quarter, compared to analysts’ expectations of $58.74 million. Equities analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Friday, December 5th. Flushing Financial’s dividend payout ratio (DPR) is currently -73.95%.

Institutional Trading of Flushing Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its position in shares of Flushing Financial by 75.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock valued at $46,000 after buying an additional 1,650 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in Flushing Financial by 37.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock worth $96,000 after acquiring an additional 2,194 shares during the period. Occudo Quantitative Strategies LP purchased a new position in Flushing Financial during the third quarter valued at approximately $147,000. ProShare Advisors LLC purchased a new position in Flushing Financial during the third quarter valued at approximately $152,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Flushing Financial in the third quarter worth approximately $177,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Flushing Financial Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.