Flushing Financial - FFIC Stock Forecast, Price & News

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, demand accounts, NOW accounts, and certificates of deposit. The company also provides mortgage loans secured by multi-family residential, commercial real estate, one-to-four family mixed-use property, one-to-four family residential property, and commercial business loans; construction loans; small business administration loans and other small business loans; mortgage loan surrogates, such as mortgage-backed securities; and consumer loans, including overdraft lines of credit, as well as the United States government securities, corporate fixed-income securities, and other marketable securities. In addition, it offers banking services to public municipalities comprising counties, cities, towns, villages, school districts, libraries, fire districts, and various courts. As of December 31, 2021, the company operated 24 full-service offices located in the New York City boroughs of Queens, Brooklyn, and Manhattan; and in Nassau and Suffolk County, New York, as well as an Internet branch. Flushing Financial Corporation was founded in 1929 and is based in Uniondale, New York.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Flushing Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, July 27th.

Flushing Financial Price Performance

Shares of FFIC Stock traded down $0.21 during mid-day trading on Monday, reaching $22.46. The company's stock had a trading volume of 322 shares, compared to its average volume of 109,694. Flushing Financial has a 1-year low of $20.50 and a 1-year high of $25.95. The company has a market cap of $673.40 million, a P/E ratio of 8.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.08 and a current ratio of 1.08. The firm's 50-day moving average is $21.82 and its two-hundred day moving average is $22.36.

Flushing Financial (NASDAQ:FFIC - Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.14. Flushing Financial had a net margin of 28.96% and a return on equity of 13.26%. During the same period in the previous year, the business posted $0.73 earnings per share. On average, research analysts predict that Flushing Financial will post 2.39 earnings per share for the current year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Thursday, June 2nd. Flushing Financial's dividend payout ratio (DPR) is currently 31.65%.

Insider Buying and Selling

In related news, COO Maria A. Grasso sold 6,000 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the sale, the chief operating officer now owns 76,525 shares in the company, valued at approximately $1,683,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Maria A. Grasso sold 6,000 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the sale, the chief operating officer now owns 76,525 shares in the company, valued at approximately $1,683,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francis W. Korzekwinski sold 5,000 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $22.17, for a total transaction of $110,850.00. Following the sale, the executive vice president now owns 71,952 shares of the company's stock, valued at approximately $1,595,175.84. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by corporate insiders.