Flushing Financial (NASDAQ:FFIC) Given New $17.00 Price Target at Raymond James

Flushing Financial (NASDAQ:FFIC) had its price target upped by Raymond James from $16.00 to $17.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other research firms have also commented on FFIC. StockNews.com lowered shares of Flushing Financial from a hold rating to a sell rating in a research report on Monday, July 8th. Piper Sandler lowered shares of Flushing Financial from an overweight rating to a neutral rating and increased their price target for the company from $15.00 to $16.50 in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Flushing Financial from $14.00 to $13.00 and set a market perform rating for the company in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $15.50.

Flushing Financial Stock Down 2.6 %

NASDAQ:FFIC opened at $13.54 on Wednesday. Flushing Financial has a 1-year low of $10.74 and a 1-year high of $18.00. The company has a 50-day moving average of $13.39 and a 200 day moving average of $13.13. The firm has a market cap of $393.61 million, a PE ratio of 13.54 and a beta of 0.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.97 and a quick ratio of 0.97.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $117.45 million during the quarter, compared to analyst estimates of $46.96 million. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, research analysts anticipate that Flushing Financial will post 0.73 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 6.50%. Flushing Financial’s dividend payout ratio (DPR) is currently 88.00%.

Hedge Funds Weigh In On Flushing Financial

Hedge funds have recently modified their holdings of the stock. Princeton Capital Management LLC acquired a new position in Flushing Financial in the 2nd quarter worth approximately $145,000. Bank of New York Mellon Corp increased its holdings in Flushing Financial by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock worth $2,736,000 after buying an additional 3,984 shares during the period. Assenagon Asset Management S.A. increased its holdings in Flushing Financial by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after buying an additional 46,871 shares during the period. SG Americas Securities LLC acquired a new position in Flushing Financial in the 2nd quarter worth approximately $149,000. Finally, CWM LLC increased its holdings in Flushing Financial by 87.0% in the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock worth $73,000 after buying an additional 2,575 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Company Profile

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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.