Flushing Financial (NASDAQ:FFIC) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened
by Mitch Edgeman · The Markets DailyFlushing Financial Corporation (NASDAQ:FFIC – Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.33 and traded as high as $15.81. Flushing Financial shares last traded at $15.77, with a volume of 173,782 shares changing hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on FFIC shares. Weiss Ratings upgraded shares of Flushing Financial from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Flushing Financial from $14.50 to $16.80 and gave the company a “market perform” rating in a report on Thursday, January 29th. Raymond James Financial lowered shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 31st. Finally, Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.80.
View Our Latest Analysis on FFIC
Flushing Financial Stock Performance
The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $549.87 million, a P/E ratio of 30.06 and a beta of 0.79. The firm’s fifty day moving average price is $15.79 and its 200 day moving average price is $15.35.
Flushing Financial (NASDAQ:FFIC – Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Flushing Financial had a net margin of 3.86% and a return on equity of 5.95%. The business had revenue of $58.81 million during the quarter, compared to the consensus estimate of $62.27 million. Sell-side analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.
Flushing Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be issued a $0.22 dividend. The ex-dividend date is Friday, April 10th. This represents a $0.88 annualized dividend and a dividend yield of 5.4%. Flushing Financial’s payout ratio is currently 162.96%.
Insider Activity at Flushing Financial
In other news, EVP Thomas Buonaiuto sold 1,570 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the completion of the sale, the executive vice president owned 35,469 shares in the company, valued at approximately $574,597.80. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.66% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in shares of Flushing Financial by 12.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 22,803 shares of the bank’s stock worth $346,000 after buying an additional 2,444 shares during the last quarter. State of Tennessee Department of Treasury purchased a new position in shares of Flushing Financial in the 4th quarter worth approximately $425,000. Empowered Funds LLC grew its position in shares of Flushing Financial by 10.6% in the 4th quarter. Empowered Funds LLC now owns 140,908 shares of the bank’s stock worth $2,138,000 after buying an additional 13,560 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Flushing Financial by 84.3% in the 4th quarter. Wellington Management Group LLP now owns 3,293,397 shares of the bank’s stock worth $49,961,000 after buying an additional 1,506,404 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Flushing Financial in the 4th quarter worth approximately $82,000. 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.