Flushing Financial (NASDAQ:FFIC) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Flushing Financial Corporation (NASDAQ:FFIC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.33 and traded as high as $15.81. Flushing Financial shares last traded at $15.77, with a volume of 173,782 shares.

Analysts Set New Price Targets

FFIC has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Flushing Financial from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 9th. Zacks Research cut shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on shares of Flushing Financial from $14.50 to $16.80 and gave the company a “market perform” rating in a report on Thursday, January 29th. Finally, Raymond James Financial cut shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 31st. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Flushing Financial currently has a consensus rating of “Hold” and an average price target of $16.80.

Flushing Financial Stock Up 1.2%

The company’s 50 day moving average price is $15.77 and its two-hundred day moving average price is $15.33. The firm has a market cap of $534.29 million, a PE ratio of 29.20 and a beta of 0.79. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly 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 business had revenue of $58.81 million for the quarter, compared to analysts’ expectations of $62.27 million. Flushing Financial had a return on equity of 5.95% and a net margin of 3.86%. On average, equities research analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Stockholders of record on Friday, April 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, April 10th. Flushing Financial’s dividend payout ratio (DPR) is presently 162.96%.

Insider Activity at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 1,570 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $16.20, for a total transaction of $25,434.00. Following the sale, the executive vice president directly owned 35,469 shares in the company, valued at $574,597.80. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.66% of the stock is owned by insiders.

Institutional Trading of Flushing Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its holdings in Flushing Financial by 58.6% in the 4th 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. Tower Research Capital LLC TRC increased its holdings in 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 acquiring an additional 1,650 shares during the last quarter. Allworth Financial LP increased its holdings in Flushing Financial by 306.0% in the 4th quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock valued at $60,000 after acquiring an additional 2,977 shares during the last quarter. Summit Securities Group LLC bought a new stake in Flushing Financial in the 4th quarter valued at $82,000. Finally, Kestra Advisory Services LLC bought a new stake in Flushing Financial in the 4th quarter valued at $99,000. 67.10% of the stock is currently owned by institutional investors.

Flushing Financial Company Profile

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.