Flushing Financial Co. (NASDAQ:FFIC – Get Rating) – Research analysts at DA Davidson issued their Q2 2023 earnings per share estimates for shares of Flushing Financial in a note issued to investors on Tuesday, May 2nd. DA Davidson analyst M. Navas expects that the bank will earn $0.24 per share for the quarter. The consensus estimate for Flushing Financial's current full-year earnings is $1.04 per share.
Get Flushing Financial alerts:Several other equities research analysts have also recently weighed in on FFIC. Keefe, Bruyette & Woods lowered their target price on Flushing Financial from $23.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, April 6th. StockNews.com cut Flushing Financial from a "hold" rating to a "sell" rating in a report on Thursday, April 27th.
Flushing Financial Price Performance
Shares of FFIC stock opened at $10.43 on Wednesday. Flushing Financial has a twelve month low of $10.19 and a twelve month high of $23.44. The stock has a market capitalization of $307.56 million, a price-to-earnings ratio of 5.01 and a beta of 0.64. The stock has a fifty day simple moving average of $15.15 and a two-hundred day simple moving average of $18.31. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.55.
Flushing Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend was Thursday, March 9th. Flushing Financial's payout ratio is 42.31%.
Insider Transactions at Flushing Financial
In related news, Director Louis C. Grassi purchased 2,000 shares of Flushing Financial stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $15.07 per share, with a total value of $30,140.00. Following the transaction, the director now owns 108,821 shares in the company, valued at approximately $1,639,932.47. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Francis W. Korzekwinski sold 7,136 shares of the company's stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $19.49, for a total transaction of $139,080.64. Following the transaction, the executive vice president now directly owns 73,075 shares of the company's stock, valued at approximately $1,424,231.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Louis C. Grassi bought 2,000 shares of Flushing Financial stock in a transaction that occurred on Wednesday, March 15th. The shares were acquired at an average cost of $15.07 per share, for a total transaction of $30,140.00. Following the completion of the transaction, the director now directly owns 108,821 shares in the company, valued at $1,639,932.47. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in FFIC. Lazard Asset Management LLC acquired a new position in Flushing Financial during the 3rd quarter valued at about $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Flushing Financial in the third quarter valued at about $33,000. Ensign Peak Advisors Inc acquired a new position in shares of Flushing Financial in the third quarter valued at about $38,000. Quadrant Capital Group LLC increased its holdings in shares of Flushing Financial by 108.0% in the fourth quarter. Quadrant Capital Group LLC now owns 2,610 shares of the bank's stock valued at $51,000 after purchasing an additional 1,355 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Flushing Financial by 29.7% in the first quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank's stock valued at $64,000 after purchasing an additional 628 shares during the period. 65.76% of the stock is owned by institutional investors and hedge funds.
About Flushing Financial
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Flushing Financial Corp. operates as a bank holding company, which provides banking and financial services. Its principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, primarily in originations and purchases of multi-family residential properties, commercial business loans, commercial real estate mortgage loans, construction loans, small business administration loans and other small business loans, mortgage loans, U.S.
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