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.

Flushing Financial Stock Performance

FFIC Stock traded up $0.19 on Monday, reaching $21.93. 1,360 shares of the company were exchanged, compared to its average volume of 111,095. The firm has a market capitalization of $665.51 million, a PE ratio of 7.82 and a beta of 0.71. Flushing Financial has a 12 month low of $20.50 and a 12 month high of $25.95. The stock's fifty day moving average price is $21.90 and its 200 day moving average price is $22.45. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.05 and a quick ratio of 1.05.

Flushing Financial (NASDAQ:FFIC - Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The bank reported $0.81 earnings per share (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 quarter in the prior year, the business posted $0.73 EPS. On average, research analysts anticipate that Flushing Financial will post 2.39 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 3rd were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Thursday, June 2nd. Flushing Financial's payout ratio is presently 31.65%.

Analyst Ratings Changes

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

Insider Activity

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