Flushing Financial (NASDAQ:FFIC) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Flushing Financial Corporation shares surpassed their 200-day moving average of $12.55, trading as high as $14.12 before closing at $13.78.
• Zacks Research upgraded the stock from a "strong sell" to a "hold" rating, contributing to a consensus "hold" rating among analysts.
• The company recently announced a quarterly dividend of $0.22, representing an annual yield of 6.4%, despite a negative net margin of 7.13%.

Shares of Flushing Financial Corporation (NASDAQ:FFIC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.55 and traded as high as $14.12. Flushing Financial shares last traded at $13.78, with a volume of 134,533 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Flushing Financial from a "strong sell" rating to a "hold" rating in a report on Monday, September 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Flushing Financial currently has a consensus rating of "Hold".

Flushing Financial Price Performance

The business's 50 day moving average is $13.17 and its two-hundred day moving average is $12.55. The firm has a market capitalization of $465.49 million, a PE ratio of -11.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $58.92 million for the quarter, compared to the consensus estimate of $60.13 million. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. As a group, research analysts anticipate that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were issued a $0.22 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.88 annualized dividend and a dividend yield of 6.4%. Flushing Financial's dividend payout ratio (DPR) is currently -73.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in Flushing Financial by 12.2% during the 4th quarter. Bank of America Corp DE now owns 117,048 shares of the bank's stock valued at $1,671,000 after buying an additional 12,732 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Flushing Financial by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,813 shares of the bank's stock worth $226,000 after purchasing an additional 684 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Flushing Financial in the 4th quarter worth about $147,000. Public Employees Retirement System of Ohio bought a new position in Flushing Financial in the 4th quarter worth about $276,000. Finally, Wellington Management Group LLP bought a new position in Flushing Financial in the 4th quarter worth about $4,166,000. Institutional investors 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.

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