Flushing Financial (NASDAQ:FFIC) Sets New 52-Week High – Time to Buy?

Flushing Financial Co. (NASDAQ:FFIC) reached a new 52-week high during trading on Monday . The stock traded as high as $18.53 and last traded at $18.23, with a volume of 18863 shares traded. The stock had previously closed at $18.09.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Raymond James lifted their price objective on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler cut Flushing Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their target price on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Flushing Financial presently has a consensus rating of “Hold” and an average target price of $15.50.

Flushing Financial Trading Up 0.5 %

The firm has a market cap of $528.49 million, a price-to-earnings ratio of 20.79 and a beta of 0.75. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The business has a fifty day moving average of $15.55 and a two-hundred day moving average of $14.16.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.84%. Flushing Financial’s payout ratio is 101.15%.

Insider Activity at Flushing Financial

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in Flushing Financial by 4,000.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,000 shares during the period. EntryPoint Capital LLC acquired a new stake in Flushing Financial during the 1st quarter valued at $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Flushing Financial during the 2nd quarter valued at $61,000. CWM LLC grew its holdings in shares of Flushing Financial by 87.0% during the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after acquiring an additional 2,575 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Flushing Financial by 64.1% during the 3rd quarter. FMR LLC now owns 7,259 shares of the bank’s stock valued at $106,000 after acquiring an additional 2,836 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

About Flushing Financial

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.