Analysts Set Flushing Financial Co. (NASDAQ:FFIC) PT at $28.25

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Flushing Financial Co. (NASDAQ:FFIC) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $28.25.

A number of research firms have recently commented on FFIC. ValuEngine downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. BidaskClub downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Gabelli reaffirmed a “buy” rating on shares of Flushing Financial in a research note on Thursday, May 2nd. Finally, Zacks Investment Research downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Flushing Financial during the 4th quarter worth about $10,858,000. BlackRock Inc. grew its holdings in shares of Flushing Financial by 2.5% during the 4th quarter. BlackRock Inc. now owns 2,119,214 shares of the bank’s stock worth $45,628,000 after purchasing an additional 50,896 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Flushing Financial during the 4th quarter worth about $910,000. Frontier Capital Management Co. LLC grew its holdings in shares of Flushing Financial by 1.6% during the 1st quarter. Frontier Capital Management Co. LLC now owns 2,561,121 shares of the bank’s stock worth $56,165,000 after purchasing an additional 41,127 shares during the period. Finally, Oberweis Asset Management Inc. purchased a new stake in shares of Flushing Financial during the 4th quarter worth about $491,000. 77.01% of the stock is owned by institutional investors.

FFIC stock traded up $0.06 during trading on Friday, hitting $21.67. The stock had a trading volume of 850 shares, compared to its average volume of 45,573. The company has a 50 day moving average price of $21.58. Flushing Financial has a 1-year low of $20.27 and a 1-year high of $27.42. The company has a market capitalization of $600.39 million, a PE ratio of 11.20, a price-to-earnings-growth ratio of 3.08 and a beta of 0.87. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.11 and a current ratio of 1.11.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, April 30th. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). Flushing Financial had a net margin of 18.51% and a return on equity of 9.93%. The firm had revenue of $42.75 million during the quarter, compared to analyst estimates of $43.70 million. As a group, analysts predict that Flushing Financial will post 1.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, June 13th. Flushing Financial’s dividend payout ratio is currently 43.30%.

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, demand accounts, NOW accounts, and certificates of deposit.

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