StockNews.com Upgrades Flushing Financial (NASDAQ:FFIC) to Hold

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

Flushing Financial Stock Up 1.8 %

Shares of FFIC traded up $0.30 during midday trading on Wednesday, reaching $17.41. The stock had a trading volume of 233,990 shares, compared to its average volume of 177,745. Flushing Financial has a 1-year low of $10.74 and a 1-year high of $18.59. The company's fifty day simple moving average is $16.31 and its two-hundred day simple moving average is $14.55. The company has a market cap of $506.09 million, a price-to-earnings ratio of 19.67 and a beta of 0.78. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date is Friday, December 6th. Flushing Financial's dividend payout ratio (DPR) is 101.15%.

Insider Activity at Flushing Financial

In other news, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the sale, the director now owns 67,251 shares of the company's stock, valued at $1,040,372.97. The trade was a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the sale, the chief accounting officer now directly owns 34,853 shares in the company, valued at approximately $564,270.07. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.31% of the company's stock.

Institutional Trading of Flushing Financial

Several hedge funds and other institutional investors have recently made changes to their positions in FFIC. Geode Capital Management LLC lifted its stake in shares of Flushing Financial by 0.7% in the third quarter. Geode Capital Management LLC now owns 694,216 shares of the bank's stock valued at $10,124,000 after purchasing an additional 5,128 shares during the period. Dana Investment Advisors Inc. grew its holdings in shares of Flushing Financial by 11.5% during the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank's stock worth $5,960,000 after buying an additional 46,800 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Flushing Financial by 16.1% during the second quarter. American Century Companies Inc. now owns 452,209 shares of the bank's stock worth $5,947,000 after buying an additional 62,659 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Flushing Financial by 38.1% during the second quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank's stock worth $4,874,000 after buying an additional 102,219 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Flushing Financial during the third quarter worth about $4,936,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

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.