Flushing Financial (NASDAQ:FFIC) Price Target Raised to $15.00 at Keefe, Bruyette & Woods

Flushing Financial (NASDAQ:FFIC) had its target price hoisted by Keefe, Bruyette & Woods from $13.00 to $15.00 in a report issued on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other brokerages also recently commented on FFIC. StockNews.com downgraded shares of Flushing Financial from a hold rating to a sell rating in a research note on Monday, July 8th. Raymond James raised their target price on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Finally, Piper Sandler cut shares of Flushing Financial from an overweight rating to a neutral rating and lifted their price objective for the company from $15.00 to $16.50 in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Flushing Financial currently has an average rating of Hold and a consensus price target of $15.50.

Flushing Financial Trading Down 5.5 %

Shares of FFIC traded down $0.74 during trading hours on Thursday, hitting $12.80. The company had a trading volume of 184,349 shares, compared to its average volume of 188,727. The firm has a market cap of $372.08 million, a P/E ratio of 13.54 and a beta of 0.77. The stock’s 50 day moving average price is $13.39 and its 200 day moving average price is $13.11. 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 earnings results on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $117.45 million during the quarter, compared to analyst estimates of $46.96 million. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. During the same period in the previous year, the business earned $0.26 EPS. On average, research analysts predict that Flushing Financial will post 0.73 EPS for the current year.

Flushing Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 6.88%. Flushing Financial’s dividend payout ratio is presently 88.00%.

Institutional Investors Weigh In On Flushing Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FFIC. Princeton Capital Management LLC acquired a new position in Flushing Financial in the second quarter valued at approximately $145,000. Bank of New York Mellon Corp raised its position in shares of Flushing Financial by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock valued at $2,736,000 after buying an additional 3,984 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Flushing Financial by 41.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock valued at $2,121,000 after purchasing an additional 46,871 shares during the last quarter. SG Americas Securities LLC bought a new stake in Flushing Financial during the 2nd quarter worth approximately $149,000. Finally, CWM LLC boosted its stake in shares of Flushing Financial by 87.0% in the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

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.