Flushing Financial (NASDAQ:FFIC) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a sell rating in a research report sent to investors on Friday.

Flushing Financial Stock Up 2.5 %

NASDAQ FFIC opened at $13.95 on Friday. The business’s 50-day moving average price is $15.34 and its 200 day moving average price is $15.06. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.59.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. Research analysts expect that Flushing Financial will post 1.28 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.31%. The ex-dividend date was Friday, December 6th. Flushing Financial’s payout ratio is currently -87.13%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC acquired a new position in shares of Flushing Financial during the third quarter worth $4,936,000. AQR Capital Management LLC increased its stake in Flushing Financial by 531.8% during the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock worth $4,292,000 after buying an additional 274,720 shares during the period. Stieven Capital Advisors L.P. acquired a new position in Flushing Financial in the 4th quarter worth $3,344,000. GSA Capital Partners LLP boosted its position in Flushing Financial by 59.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,142 shares of the bank’s stock valued at $1,562,000 after buying an additional 39,872 shares during the last quarter. Finally, Fourthstone LLC acquired a new stake in shares of Flushing Financial during the third quarter valued at about $510,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.