Flushing Financial (NASDAQ:FFIC) Upgraded to "Hold" at StockNews.com

StockNews.com upgraded shares of Flushing Financial (NASDAQ:FFIC - Free Report) from a sell rating to a hold rating in a research report released on Monday.

Flushing Financial Stock Performance

Shares of FFIC stock traded down $0.19 during mid-day trading on Monday, hitting $12.96. 1,704,543 shares of the stock were exchanged, compared to its average volume of 221,550. The stock's fifty day simple moving average is $14.18 and its two-hundred day simple moving average is $15.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. Flushing Financial has a 12-month low of $10.74 and a 12-month high of $18.59. The stock has a market capitalization of $437.75 million, a price-to-earnings ratio of -12.83 and a beta of 0.79.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. On average, analysts forecast that Flushing Financial will post 1.2 EPS for the current year.

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Flushing Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Friday, March 14th. Flushing Financial's payout ratio is currently -87.13%.

Insider Buying and Selling at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 6,800 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total value of $87,856.00. Following the transaction, the executive vice president now owns 32,336 shares in the company, valued at $417,781.12. The trade was a 17.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FFIC. R Squared Ltd acquired a new stake in shares of Flushing Financial during the fourth quarter worth $28,000. US Bancorp DE raised its position in Flushing Financial by 496.0% during the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank's stock worth $53,000 after buying an additional 3,100 shares during the last quarter. Quarry LP acquired a new stake in shares of Flushing Financial in the 4th quarter worth $73,000. New York State Common Retirement Fund boosted its holdings in shares of Flushing Financial by 27.8% in the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank's stock valued at $92,000 after acquiring an additional 1,400 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Flushing Financial by 64.1% during the third quarter. FMR LLC now owns 7,259 shares of the bank's stock worth $106,000 after acquiring an additional 2,836 shares during the period. 67.10% of the stock is currently owned by hedge funds and other 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.