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.

Wall Street Analysts Forecast Growth

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 Down 0.8 %

Shares of FFIC opened at $22.58 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.62. The company has a 50-day moving average price of $21.82 and a two-hundred day moving average price of $22.35. The stock has a market cap of $676.99 million, a price-to-earnings ratio of 8.12 and a beta of 0.71. Flushing Financial has a 12 month low of $20.50 and a 12 month high of $25.95.

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

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $0.22 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.88 annualized dividend and a dividend yield of 3.90%. Flushing Financial's dividend payout ratio is presently 31.65%.

Insider Transactions at Flushing Financial

In related news, 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 completion of the transaction, the executive vice president now directly owns 71,952 shares of the company's stock, valued at approximately $1,595,175.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Francis W. Korzekwinski sold 5,000 shares of the 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 sale, the executive vice president now directly owns 71,952 shares in the company, valued at approximately $1,595,175.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 owned by insiders.