Short Interest in Flushing Financial Co. (NASDAQ:FFIC) Decreases By 9.5%

by · The Markets Daily

Flushing Financial Co. (NASDAQ:FFIC – Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 635,100 shares, a drop of 9.5% from the September 15th total of 701,400 shares. Based on an average daily volume of 165,100 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.3% of the shares of the company are short sold.

Insider Buying and Selling

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now directly owns 83,238 shares of the company’s stock, valued at approximately $1,122,880.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.31% of the company’s stock.

Institutional Trading of Flushing Financial

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Flushing Financial during the 1st quarter worth about $32,000. EntryPoint Capital LLC purchased a new stake in shares of Flushing Financial during the first quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flushing Financial in the second quarter valued at approximately $61,000. CWM LLC lifted 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 buying an additional 2,575 shares during the period. Finally, Perritt Capital Management Inc acquired a new stake in Flushing Financial during the second quarter worth approximately $132,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Flushing Financial Price Performance

NASDAQ FFIC traded up $0.05 during mid-day trading on Thursday, hitting $15.64. The stock had a trading volume of 300,947 shares, compared to its average volume of 178,771. The company has a 50 day simple moving average of $14.11 and a 200 day simple moving average of $13.26. The company has a market cap of $454.64 million, a price-to-earnings ratio of 15.64 and a beta of 0.76. Flushing Financial has a 52-week low of $10.74 and a 52-week high of $18.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98.

Flushing Financial (NASDAQ:FFIC – Get Free Report) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same quarter in the previous year, the company posted $0.26 EPS. Equities analysts forecast that Flushing Financial will post 0.69 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend was Friday, September 6th. Flushing Financial’s dividend payout ratio (DPR) is presently 88.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FFIC. Keefe, Bruyette & Woods boosted their target price on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. StockNews.com downgraded Flushing Financial from a “hold” rating to a “sell” rating in a report on Monday, July 8th. Finally, Raymond James boosted their target price on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Check Out Our Latest Stock Analysis on Flushing Financial

Flushing Financial Company Profile

(Get Free Report)

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.

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