Keefe, Bruyette & Woods Trims Flushing Financial (NASDAQ:FFIC) Target Price to $13.00

Flushing Financial (NASDAQ:FFIC) had its price objective trimmed by Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

FFIC has been the subject of several other reports. StockNews.com lowered Flushing Financial from a hold rating to a sell rating in a report on Thursday. DA Davidson dropped their target price on Flushing Financial from $17.00 to $13.50 and set a neutral rating on the stock in a research report on Tuesday, March 5th. Finally, Raymond James boosted their price target on shares of Flushing Financial from $17.00 to $19.00 and gave the company an outperform rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $15.17.

Flushing Financial Stock Down 0.1 %

FFIC stock opened at $11.37 on Friday. The firm has a market cap of $330.53 million, a price-to-earnings ratio of 11.37 and a beta of 0.73. Flushing Financial has a 1-year low of $9.28 and a 1-year high of $18.00. The firm has a fifty day moving average price of $12.21 and a two-hundred day moving average price of $13.81. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 1.04.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $112.58 million during the quarter, compared to analyst estimates of $47.12 million. Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. During the same period last year, the firm posted $0.10 earnings per share. Research analysts predict that Flushing Financial will post 0.71 EPS for the current year.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 7.74%. The ex-dividend date was Friday, March 8th. Flushing Financial’s payout ratio is currently 88.00%.

Insiders Place Their Bets

In related news, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the sale, the executive vice president now directly owns 32,391 shares in the company, valued at $427,885.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Francis W. Korzekwinski sold 7,649 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total transaction of $96,453.89. Following the transaction, the executive vice president now owns 73,493 shares in the company, valued at $926,746.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares of the company’s stock, valued at $427,885.11. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Flushing Financial

A number of large investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new stake in shares of Flushing Financial during the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC acquired a new stake in Flushing Financial during the 1st quarter valued at $32,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Flushing Financial in the third quarter valued at $149,000. EMC Capital Management boosted its position in shares of Flushing Financial by 116.7% in the third quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock worth $151,000 after buying an additional 6,189 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Flushing Financial by 72.4% during the third quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock valued at $209,000 after buying an additional 6,697 shares in the last quarter. 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.