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 downgraded shares of Flushing Financial from a "buy" rating to a "hold" rating in a report on Wednesday, July 27th.

Flushing Financial Stock Performance

Shares of FFIC opened at $22.15 on Thursday. The company has a market capitalization of $672.19 million, a PE ratio of 7.97 and a beta of 0.71. Flushing Financial has a one year low of $20.50 and a one year high of $25.95. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.05 and a quick ratio of 1.05. The company's fifty day moving average price is $21.84 and its 200 day moving average price is $22.43.

Flushing Financial (NASDAQ:FFIC - Get Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.81 EPS for the quarter, topping the consensus estimate of $0.67 by $0.14. Flushing Financial had a net margin of 28.96% and a return on equity of 13.24%. During the same period in the prior year, the firm posted $0.73 EPS. As a group, analysts expect that Flushing Financial will post 2.39 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 3rd were given a $0.22 dividend. The ex-dividend date was Thursday, June 2nd. This represents a $0.88 annualized dividend and a yield of 3.97%. Flushing Financial's dividend payout ratio is 31.65%.

Insiders Place Their Bets

In other Flushing Financial news, COO Maria A. Grasso sold 6,000 shares of the firm's stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the sale, the chief operating officer now directly owns 76,525 shares in the company, valued at approximately $1,683,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Flushing Financial news, COO Maria A. Grasso sold 6,000 shares of the firm's stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the sale, the chief operating officer now directly owns 76,525 shares in the company, valued at approximately $1,683,550. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Francis W. Korzekwinski sold 5,000 shares of Flushing Financial stock in a transaction dated Tuesday, August 2nd. The shares were 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 in the company, valued at $1,595,175.84. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.