Short Interest in Flushing Financial Corporation (NASDAQ:FFIC) Grows By 80.1%

Flushing Financial Corporation (NASDAQ:FFIC) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 727,870 shares, an increase of 80.1% from the January 29th total of 404,061 shares. Based on an average daily volume of 356,250 shares, the short-interest ratio is currently 2.0 days. Currently, 2.3% of the shares of the stock are sold short. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 356,250 shares, the short-interest ratio is currently 2.0 days.

Flushing Financial Trading Down 5.1%

Shares of NASDAQ FFIC traded down $0.83 during mid-day trading on Friday, reaching $15.43. 209,073 shares of the company’s stock were exchanged, compared to its average volume of 313,685. The company’s 50-day moving average is $15.99 and its 200-day moving average is $14.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $521.19 million, a price-to-earnings ratio of 28.57 and a beta of 0.83. Flushing Financial has a 52-week low of $10.65 and a 52-week high of $17.79.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $58.81 million during the quarter, compared to analyst estimates of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.96%. Analysts expect that Flushing Financial will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, March 13th. Flushing Financial’s dividend payout ratio is currently 162.96%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Flushing Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Wall Street Zen lowered shares of Flushing Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Raymond James Financial downgraded shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Flushing Financial currently has a consensus rating of “Reduce” and an average target price of $16.80.

Insider Buying and Selling at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 1,570 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the transaction, the executive vice president directly owned 35,469 shares of the company’s stock, valued at approximately $574,597.80. This trade represents a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.66% of the stock is currently owned by company insiders.

Institutional Trading of Flushing Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CSM Advisors LLC purchased a new position in Flushing Financial in the 2nd quarter valued at approximately $4,080,000. Y Intercept Hong Kong Ltd raised its stake in shares of Flushing Financial by 396.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 114,595 shares of the bank’s stock valued at $1,361,000 after acquiring an additional 91,489 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its holdings in Flushing Financial by 34.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 31,466 shares of the bank’s stock valued at $374,000 after purchasing an additional 8,083 shares during the period. GSA Capital Partners LLP acquired a new position in Flushing Financial during the 3rd quarter worth $833,000. Finally, AlphaQuest LLC grew its stake in Flushing Financial by 102,390.5% during the 2nd quarter. AlphaQuest LLC now owns 21,523 shares of the bank’s stock worth $256,000 after purchasing an additional 21,502 shares in the last quarter. Hedge funds and other 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.