Flushing Financial Co. (NASDAQ:FFIC) Short Interest Down 15.9% in July

Flushing Financial Co. (NASDAQ:FFIC) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 621,200 shares, a decrease of 15.9% from the July 15th total of 738,500 shares. Based on an average daily volume of 193,700 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

FFIC has been the topic of several recent analyst reports. Piper Sandler lowered shares of Flushing Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $15.00 to $16.50 in a research note on Tuesday, July 30th. Raymond James lifted their price target on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price objective on shares of Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.50.

Flushing Financial Stock Up 1.9 %

Shares of Flushing Financial stock traded up $0.25 on Friday, hitting $13.71. The company had a trading volume of 125,406 shares, compared to its average volume of 188,562. The stock has a 50-day moving average of $13.45 and a 200-day moving average of $12.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.97 and a quick ratio of 0.97. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.00. The firm has a market capitalization of $398.54 million, a P/E ratio of 13.71 and a beta of 0.77.

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

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date was Friday, June 7th. Flushing Financial’s dividend payout ratio is presently 88.00%.

Institutional Investors Weigh In On Flushing Financial

Institutional investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new stake in shares of Flushing Financial in the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC acquired a new stake in Flushing Financial in the 1st quarter valued at $32,000. EntryPoint Capital LLC bought a new stake in Flushing Financial during the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flushing Financial during the 2nd quarter worth about $61,000. Finally, CWM LLC increased its position 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 acquiring an additional 2,575 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

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