Flushing Financial Co. (NASDAQ:FFIC) Given Consensus Rating of “Hold” by Brokerages

Flushing Financial Co. (NASDAQ:FFIC) has received an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $28.25.

Several brokerages recently issued reports on FFIC. Zacks Investment Research cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. ValuEngine cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. BidaskClub cut shares of Flushing Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 26th. Finally, Gabelli reaffirmed a “buy” rating on shares of Flushing Financial in a research note on Thursday, May 2nd.

FFIC stock opened at $21.06 on Friday. The stock has a market cap of $591.09 million, a PE ratio of 10.86, a P/E/G ratio of 3.03 and a beta of 0.87. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.11 and a quick ratio of 1.11. Flushing Financial has a 52 week low of $20.27 and a 52 week high of $27.70.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Tuesday, April 30th. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Flushing Financial had a return on equity of 9.93% and a net margin of 18.51%. The company had revenue of $42.75 million for the quarter, compared to analysts’ expectations of $43.70 million. As a group, equities analysts anticipate that Flushing Financial will post 1.73 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.84 annualized dividend and a yield of 3.99%. Flushing Financial’s dividend payout ratio is presently 43.30%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its holdings in Flushing Financial by 222.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,657 shares of the bank’s stock valued at $124,000 after purchasing an additional 3,902 shares during the last quarter. SG Americas Securities LLC acquired a new position in Flushing Financial in the 1st quarter valued at about $164,000. O Shaughnessy Asset Management LLC acquired a new position in Flushing Financial in the 4th quarter valued at about $172,000. Metropolitan Life Insurance Co. NY boosted its holdings in Flushing Financial by 344.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,526 shares of the bank’s stock valued at $205,000 after purchasing an additional 7,381 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Flushing Financial by 9.7% in the 4th quarter. Legal & General Group Plc now owns 9,740 shares of the bank’s stock valued at $210,000 after purchasing an additional 858 shares during the last quarter. 77.01% of the stock is owned by institutional investors.

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, demand accounts, NOW accounts, and certificates of deposit.

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