Flushing Financial Co. (NASDAQ:FFIC) announced a quarterly dividend on Thursday, June 1st. Stockholders of record on Monday, June 12th will be paid a dividend of 0.18 per share by the bank on Friday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, June 8th.
Shares of Flushing Financial (FFIC) traded up 3.67% during midday trading on Friday, hitting $29.63. 108,202 shares of the stock were exchanged. Flushing Financial has a 52-week low of $18.95 and a 52-week high of $31.96. The firm’s 50-day moving average is $28.71 and its 200 day moving average is $27.96. The firm has a market cap of $859.80 million, a PE ratio of 12.71 and a beta of 1.03.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, April 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The company had revenue of $47.08 million during the quarter, compared to analysts’ expectations of $45.37 million. Flushing Financial had a return on equity of 8.71% and a net margin of 23.31%. During the same period in the prior year, the business earned $0.40 EPS. On average, analysts forecast that Flushing Financial will post $1.66 earnings per share for the current year.
Several analysts have issued reports on FFIC shares. Sandler O’Neill upgraded Flushing Financial from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $30.00 price target on shares of Flushing Financial in a report on Tuesday, May 2nd. ValuEngine upgraded Flushing Financial from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded Flushing Financial from a “hold” rating to a “strong-buy” rating and set a $34.00 price target for the company in a report on Monday, May 1st. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $28.75.
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In other Flushing Financial news, COO Maria A. Grasso sold 4,000 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $26.77, for a total value of $107,080.00. Following the sale, the chief operating officer now owns 74,223 shares of the company’s stock, valued at approximately $1,986,949.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Davison Bennett sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $27.06, for a total value of $162,360.00. Following the sale, the director now directly owns 77,113 shares in the company, valued at approximately $2,086,677.78. The disclosure for this sale can be found here. 5.85% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of FFIC. Vanguard Group Inc. increased its stake in Flushing Financial by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,323,206 shares of the bank’s stock worth $35,554,000 after buying an additional 44,975 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Flushing Financial by 5.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 126,671 shares of the bank’s stock valued at $3,404,000 after buying an additional 6,462 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Flushing Financial by 3.5% in the first quarter. Teachers Advisors LLC now owns 51,793 shares of the bank’s stock valued at $1,392,000 after buying an additional 1,744 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Flushing Financial by 20.8% in the first quarter. Legal & General Group Plc now owns 10,239 shares of the bank’s stock valued at $276,000 after buying an additional 1,761 shares in the last quarter. Hedge funds and other institutional investors own 78.61% of the company’s stock.
About Flushing Financial
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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