Flushing Financial (NASDAQ:FFIC) Price Target Raised to $17.00

Flushing Financial (NASDAQ:FFIC) had its price objective upped by Raymond James from $16.00 to $17.00 in a report issued on Wednesday morning, Benzinga reports. Raymond James currently has an outperform rating on the bank’s stock.

Several other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Flushing Financial from a hold rating to a sell rating in a research note on Monday, July 8th. Piper Sandler downgraded Flushing Financial from an overweight rating to a neutral rating and raised their price target for the stock from $15.00 to $16.50 in a report on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price objective on Flushing Financial from $14.00 to $13.00 and set a market perform rating for the company in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $15.50.

Flushing Financial Trading Down 2.6 %

NASDAQ:FFIC opened at $13.54 on Wednesday. The company has a market cap of $393.61 million, a PE ratio of 13.54 and a beta of 0.77. The business’s 50 day moving average is $13.39 and its two-hundred day moving average is $13.15. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.00. Flushing Financial has a 52 week low of $10.74 and a 52 week high of $18.00.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $117.45 million for the quarter, compared to analysts’ expectations of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same period last year, the business posted $0.26 earnings per share. On average, analysts predict that Flushing Financial will post 0.73 EPS for the current year.

Flushing Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 6.50%. Flushing Financial’s payout ratio is 88.00%.

Institutional Investors Weigh In On Flushing Financial

A number of hedge funds and other institutional investors have recently modified their holdings of FFIC. YHB Investment Advisors Inc. acquired a new stake in shares of Flushing Financial in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in Flushing Financial during the 1st quarter valued at $32,000. EntryPoint Capital LLC bought a new stake in shares of Flushing Financial in the 1st quarter worth $35,000. CWM LLC lifted its holdings in shares of Flushing Financial by 87.0% in the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after buying an additional 2,575 shares during the period. Finally, Princeton Capital Management LLC bought a new position in Flushing Financial during the second quarter valued at about $145,000. 67.10% of the stock is currently owned by institutional investors.

About Flushing Financial

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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.