Flushing Financial (NASDAQ:FFIC) Stock Passes Above 200 Day Moving Average – Here’s Why

Flushing Financial Corporation (NASDAQ:FFIC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.66 and traded as high as $16.45. Flushing Financial shares last traded at $16.17, with a volume of 163,542 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Weiss Ratings raised shares of Flushing Financial from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 9th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.80.

Flushing Financial Stock Performance

The firm has a 50-day simple moving average of $15.64 and a two-hundred day simple moving average of $15.66. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $547.84 million, a price-to-earnings ratio of 16.17 and a beta of 0.76.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). Flushing Financial had a net margin of 7.15% and a return on equity of 6.22%. The firm had revenue of $56.98 million during the quarter, compared to the consensus estimate of $61.15 million.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 10th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, April 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.4%. Flushing Financial’s dividend payout ratio (DPR) is currently 88.00%.

Hedge Funds Weigh In On Flushing Financial

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its holdings in Flushing Financial by 75.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock valued at $46,000 after buying an additional 1,650 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Flushing Financial by 58.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock worth $50,000 after acquiring an additional 1,218 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Flushing Financial by 306.0% during the 4th quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock worth $60,000 after acquiring an additional 2,977 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Flushing Financial during the 4th quarter valued at about $82,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Flushing Financial in the 4th quarter valued at approximately $99,000. 67.10% of the stock is owned by institutional investors and hedge funds.

About Flushing Financial

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.