Flushing Financial (NASDAQ:FFIC) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Flushing Financial (NASDAQ:FFIC) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities analysts have also recently commented on FFIC. Raymond James Financial cut Flushing Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Flushing Financial in a research report on Monday. Finally, Wall Street Zen lowered shares of Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Flushing Financial Trading Down 8.9%

Shares of Flushing Financial stock opened at $15.38 on Monday. The stock has a market cap of $519.51 million, a P/E ratio of -12.92 and a beta of 0.84. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. Flushing Financial has a 12-month low of $10.65 and a 12-month high of $17.79. The business’s 50 day moving average is $15.69 and its 200-day moving average is $13.91.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, February 15th. The bank reported $0.58 earnings per share for the quarter. The business had revenue of $54.81 million for the quarter. Flushing Financial had a negative net margin of 6.93% and a positive return on equity of 4.98%. Equities research analysts predict that Flushing Financial will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.88 annualized dividend and a yield of 5.7%. Flushing Financial’s dividend payout ratio (DPR) is -73.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new stake in shares of Flushing Financial during the 3rd quarter valued at approximately $177,000. Jacobs Levy Equity Management Inc. lifted its stake in Flushing Financial by 2.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 109,984 shares of the bank’s stock valued at $1,519,000 after purchasing an additional 3,077 shares during the last quarter. Mariner LLC acquired a new stake in Flushing Financial in the third quarter valued at approximately $295,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Flushing Financial during the third quarter worth $281,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Flushing Financial during the third quarter worth $204,000. Institutional investors own 67.10% of the company’s stock.

Flushing Financial Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.