Short Interest in Flushing Financial Corporation (NASDAQ:FFIC) Increases By 80.1%

Flushing Financial Corporation (NASDAQ:FFIC) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 727,870 shares, an increase of 80.1% from the January 29th total of 404,061 shares. Approximately 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 356,250 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 356,250 shares, the short-interest ratio is presently 2.0 days. Approximately 2.3% of the company’s stock are sold short.

Flushing Financial Stock Performance

NASDAQ:FFIC opened at $15.43 on Monday. The firm has a market capitalization of $522.77 million, a PE ratio of 28.57 and a beta of 0.82. Flushing Financial has a 1 year low of $10.65 and a 1 year high of $17.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $15.99 and its 200 day simple moving average is $15.02.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Tuesday, January 27th. The bank reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $58.81 million during the quarter, compared to the consensus estimate of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.96%. On average, sell-side analysts anticipate that Flushing Financial will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, March 13th. Flushing Financial’s dividend payout ratio (DPR) is currently 162.96%.

Insider Buying and Selling at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 1,570 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $16.20, for a total value of $25,434.00. Following the completion of the sale, the executive vice president directly owned 35,469 shares of the company’s stock, valued at approximately $574,597.80. This represents a 4.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.66% of the company’s stock.

Institutional Trading of Flushing Financial

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Flushing Financial by 75.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,650 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Flushing Financial by 58.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,218 shares during the last quarter. Allworth Financial LP grew its holdings in Flushing Financial by 306.0% during the 4th quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock worth $60,000 after acquiring an additional 2,977 shares during the period. Summit Securities Group LLC bought a new stake in shares of Flushing Financial during the 4th quarter valued at $82,000. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Flushing Financial by 37.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock valued at $96,000 after acquiring an additional 2,194 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Wall Street Analysts Forecast Growth

FFIC has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price objective on Flushing Financial from $14.50 to $16.80 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Zacks Research lowered Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen downgraded Flushing Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Flushing Financial in a research report on Monday, December 29th. Finally, Raymond James Financial cut shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $16.80.

About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.