Flushing Financial (NASDAQ:FFIC) Research Coverage Started at StockNews.com

Posted by admin on Mar 19th, 2023

StockNews.com initiated coverage on shares of Flushing Financial (NASDAQ:FFIC – Get Rating) in a research note released on Thursday. The firm issued a hold rating on the bank’s stock.

Flushing Financial Stock Performance

FFIC stock traded down $1.45 during midday trading on Thursday, hitting $15.04. 476,489 shares of the stock traded hands, compared to its average volume of 192,851. The firm has a market cap of $443.53 million, a P/E ratio of 6.04 and a beta of 0.67. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.09 and a quick ratio of 1.16. The stock’s fifty day simple moving average is $19.13 and its 200-day simple moving average is $19.81. Flushing Financial has a 1-year low of $14.84 and a 1-year high of $23.64.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $0.88 annualized dividend and a dividend yield of 5.85%. Flushing Financial’s dividend payout ratio (DPR) is 35.34%.

Insider Activity

In other news, EVP Francis W. Korzekwinski sold 7,136 shares of Flushing Financial stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $19.49, for a total value of $139,080.64. Following the sale, the executive vice president now owns 73,075 shares in the company, valued at $1,424,231.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Francis W. Korzekwinski sold 7,136 shares of Flushing Financial stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $19.49, for a total value of $139,080.64. Following the sale, the executive vice president now owns 73,075 shares in the company, valued at $1,424,231.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Louis C. Grassi bought 2,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was bought at an average price of $15.07 per share, for a total transaction of $30,140.00. Following the transaction, the director now owns 108,821 shares of the company’s stock, valued at $1,639,932.47. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Flushing Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Tudor Investment Corp Et Al boosted its position in Flushing Financial by 39.2% during the third quarter. Tudor Investment Corp Et Al now owns 42,821 shares of the bank’s stock worth $829,000 after acquiring an additional 12,059 shares during the last quarter. New York State Common Retirement Fund boosted its position in Flushing Financial by 27.2% during the third quarter. New York State Common Retirement Fund now owns 22,752 shares of the bank’s stock worth $441,000 after acquiring an additional 4,863 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Flushing Financial by 0.4% during the third quarter. Gamco Investors INC. ET AL now owns 926,625 shares of the bank’s stock worth $17,949,000 after acquiring an additional 3,800 shares during the last quarter. Oberweis Asset Management Inc. acquired a new position in Flushing Financial during the third quarter worth about $385,000. Finally, Jump Financial LLC acquired a new position in Flushing Financial during the third quarter worth about $198,000. 65.76% of the stock is currently owned by institutional investors and hedge funds.

About Flushing Financial

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Flushing Financial Corp. operates as a bank holding company, which provides banking and financial services. Its principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, primarily in originations and purchases of multi-family residential properties, commercial business loans, commercial real estate mortgage loans, construction loans, small business administration loans and other small business loans, mortgage loans, U.S.