Flushing Financial (NASDAQ:FFIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Flushing Financial (NASDAQ:FFIC) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $15.09 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The stock has a market cap of $438.65 million, a P/E ratio of 17.34 and a beta of 0.78. The stock has a 50 day moving average of $16.47 and a two-hundred day moving average of $14.60. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.59.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.83%. Flushing Financial’s payout ratio is 101.15%.

Insider Buying and Selling

In related news, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the transaction, the chief accounting officer now directly owns 34,853 shares in the company, valued at $564,270.07. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sam Sang Ki Han sold 10,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now directly owns 67,251 shares in the company, valued at approximately $1,040,372.97. This represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.31% of the company’s stock.

Hedge Funds Weigh In On Flushing Financial

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Flushing Financial by 87.0% during the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares during the period. SG Americas Securities LLC acquired a new position in shares of Flushing Financial during the second quarter valued at approximately $149,000. Assenagon Asset Management S.A. raised its stake in shares of Flushing Financial by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after buying an additional 46,871 shares in the last quarter. Bank of New York Mellon Corp raised its position in Flushing Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock worth $2,736,000 after acquiring an additional 3,984 shares in the last quarter. Finally, Princeton Capital Management LLC acquired a new stake in Flushing Financial during the second quarter valued at approximately $145,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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.