According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “
A number of other brokerages also recently commented on FFIC. ValuEngine raised shares of WEX from a hold rating to a buy rating in a report on Thursday, June 13th. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 26th. Finally, Gabelli reaffirmed a buy rating on shares of Flushing Financial in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $27.17.
Shares of Flushing Financial stock opened at $22.25 on Tuesday. The stock has a market capitalization of $626.04 million, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 3.21 and a beta of 0.87. The firm’s 50-day moving average price is $21.59. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.09. Flushing Financial has a twelve month low of $20.27 and a twelve month high of $27.32.
Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.06). Flushing Financial had a net margin of 18.51% and a return on equity of 9.93%. The business had revenue of $42.75 million during the quarter, compared to the consensus estimate of $43.70 million. Sell-side analysts forecast that Flushing Financial will post 1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, June 13th. Flushing Financial’s payout ratio is 43.30%.
Several large investors have recently made changes to their positions in FFIC. Rhumbline Advisers lifted its stake in Flushing Financial by 31.6% in the fourth quarter. Rhumbline Advisers now owns 52,131 shares of the bank’s stock worth $1,122,000 after purchasing an additional 12,525 shares during the last quarter. BlackRock Inc. lifted its stake in Flushing Financial by 2.5% in the fourth quarter. BlackRock Inc. now owns 2,119,214 shares of the bank’s stock worth $45,628,000 after purchasing an additional 50,896 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Flushing Financial by 5.6% in the fourth quarter. Bank of New York Mellon Corp now owns 221,570 shares of the bank’s stock worth $4,770,000 after purchasing an additional 11,846 shares during the last quarter. Citigroup Inc. lifted its stake in Flushing Financial by 13.9% in the fourth quarter. Citigroup Inc. now owns 11,507 shares of the bank’s stock worth $247,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Flushing Financial by 0.8% in the fourth quarter. Northern Trust Corp now owns 1,152,839 shares of the bank’s stock worth $24,820,000 after purchasing an additional 8,973 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.
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, demand accounts, NOW accounts, and certificates of deposit.
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