Analysts Update Their Price Forecasts For Flushing Financial Corporation (FFIC)

Frontier Capital Management Co. L has recently announced that it has increased stake in Flushing Financial Corporation (NASDAQ:FFIC) by 10.09%. After grabbing 1.67 million shares, the institutional investor is now in possession of 0.15 million shares of the Financial Company. The new investment brought the stake of investor firm to 5.61% having worth around $34.89 million. Moreover, GAMCO Asset Management, Inc. increased its share by 3800.0 to have a control over 0.93 million shares.

Flushing Financial Corporation (FFIC) concluded trading on 01/12/23 at a closing price of $19.50, with 0.88 million shares of worth about $17.1 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.93% during that period and on Thursday the price saw a loss of about -0.20%. Currently the company’s common shares owned by public are about 30.70M shares, out of which, 28.23M shares are available for trading.

Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $23.00 and could fall to a lowest price of $19.00. The stock’s current price level is 10.01% above of average price target set by the analysts, while a rise to estimated low would result in loss of -2.63% for the stock. However, touching the estimated high of $23.00 would mean a gain of 15.22% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 139,725 shares in 25 of the transactions. In 27 selling transactions, insiders dumped 60,936 shares.

Vanguard Total Stock Market Index, DFA US Small Cap Value Portfolio, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Flushing Financial Corporation Vanguard Total Stock Market Index is currently holding 0.83 million shares of worth totaling $17.3 million. The company recently came buying 0.0 shares which brought its stake up to 2.78% of the company’s outstanding shares. DFA US Small Cap Value Portfolio sold 21116.0 shares, after which its hold over company’s outstanding shares shrunk to 2.39%, leaving 0.71 million shares with the mutual fund that have a worth of about $14.88 million. iShares Russell 2000 ETF, after buying 0.67 million shares, have now control over 2.26% of the stake in the company. It holds 1368.0 shares of worth $14.06 million.

Flushing Financial Corporation (NASDAQ: FFIC) started trading at $19.68, above $0.14 from concluding price of the previous day. However, the stock later moved at a day high price of 19.96, or with a loss of -0.20%. Stock saw a price change of 0.72% in past 5 days and over the past one month there was a price change of -2.40%. Year-to-date (YTD), FFIC shares are showing a performance of 0.62% which decreased to -23.02% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $19.24 but also hit the highest price of $25.95 during that period. The average intraday trading volume for Flushing Financial Corporation shares is 111.52K. The stock is currently trading -0.33% below its 20-day simple moving average (SMA20), while that difference is down -2.98% for SMA50 and it goes to -7.62% lower than SMA200.

Frontier Capital Management Co. L acquired 1.67 million shares of Flushing Financial Corporation having value of about $34.89 million. Data submitted at the U.S SEC by Frontier Capital Management Co. L revealed that the firm now holds 0.15 million shares in the company valued at close to $2990656.5, or have control over 10.09% stake in the company. Flushing Financial Corporation (NASDAQ: FFIC) currently have 30.70M outstanding shares and institutions hold larger chunk of about 68.70% of that. Holding of mutual funds in the company is about 29.49% while other institutional holders and individual stake holders have control over 37.01% and 11.72% of the stake respectively.

The stock has a current market capitalization of $567.64M and its 3Y-monthly beta is at 0.73. PE ratio of stock for trailing 12 months is 7.14, while it has posted earnings per share of $2.73 in the same period. Its PEG reads 1.27 while making debt-to-equity ratio of 0.35. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FFIC, volatility over the week remained 2.02% while standing at 1.75% over the month.

Analysts are in expectations that Flushing Financial Corporation (FFIC) stock would likely to be making an EPS of $0.49 in the current quarter, while forecast for next quarter EPS is $0.38 and it is $1.72 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.42 which is $0.53 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 119.10% while it is estimated to decrease by -35.36% in next year. EPS is likely to grow at an annualized rate of 5.60% for next 5-years, compared to annual growth of 3.00% made by the stock over the past 5-years.

Analysts at 4 brokerage firms have issued recommendations for the Flushing Financial Corporation (FFIC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 4 Wall Street analysts, 1 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Coverage by Keefe Bruyette stated Flushing Financial Corporation (FFIC) stock as an Underperform in their note to investors on November 04, 2019, suggesting a price target of $19 for the stock. Stock get a Buy rating from Gabelli & Co on April 26, 2018.