Flushing Financial (NASDAQ:FFIC) Lowered to Sell at ValuEngine

ValuEngine cut shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a sell rating in a research note released on Thursday, ValuEngine reports.

Other equities research analysts have also issued reports about the company. BidaskClub raised Flushing Financial from a sell rating to a hold rating in a research report on Friday, April 19th. Gabelli reissued a buy rating on shares of Flushing Financial in a research report on Thursday, May 2nd. Finally, Zacks Investment Research lowered Flushing Financial from a hold rating to a sell rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $27.50.

NASDAQ FFIC opened at $21.02 on Thursday. The firm has a market capitalization of $600.10 million, a P/E ratio of 10.84, a P/E/G ratio of 3.08 and a beta of 0.87. Flushing Financial has a 12 month low of $20.27 and a 12 month high of $27.91. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.09.

Flushing Financial (NASDAQ:FFIC) last released its quarterly 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). The company had revenue of $42.75 million during the quarter, compared to analysts’ expectations of $43.70 million. Flushing Financial had a net margin of 18.51% and a return on equity of 9.93%. Equities analysts expect that Flushing Financial will post 1.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Thursday, June 13th. Flushing Financial’s dividend payout ratio is presently 43.30%.

Institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY increased its position in shares of Flushing Financial by 344.1% during 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. Context BH Capital Management LP increased its holdings in Flushing Financial by 2.7% in the 4th quarter. Context BH Capital Management LP now owns 80,146 shares of the bank’s stock worth $1,726,000 after acquiring an additional 2,077 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in Flushing Financial in the 4th quarter worth about $910,000. Boston Partners increased its holdings in Flushing Financial by 2.0% in the 4th quarter. Boston Partners now owns 109,535 shares of the bank’s stock worth $2,358,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Flushing Financial by 5.6% in the 4th quarter. Bank of New York Mellon Corp now owns 221,570 shares of the bank’s stock worth $4,770,000 after acquiring an additional 11,846 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other 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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