Following this purchase, Bingold directly owns 53,450 shares of Flushing Financial (NASDAQ:FFIC). Additionally, he holds 7,367 shares indirectly through a 401(k) plan associated with Flushing Bank as of December 13, 2024. The $445 million market cap company has maintained dividend payments for 29 consecutive years, currently offering a 5.8% yield. Get deeper insights into Flushing Financial's valuation and 8 additional key metrics with InvestingPro. The $445 million market cap company has maintained dividend payments for 29 consecutive years, currently offering a 5.8% yield. Get deeper insights into Flushing Financial's valuation and 8 additional key metrics with InvestingPro.
Following this purchase, Bingold directly owns 53,450 shares of Flushing Financial. Additionally, he holds 7,367 shares indirectly through a 401(k) plan associated with Flushing Bank as of December 13, 2024.
In other recent news, Flushing Financial Corporation's recent developments have been making headlines. The company's robust third quarter results marked its strongest performance in seven years. The GAAP earnings per share were posted at $0.30 and core earnings at $0.26, with a notable growth in net interest income, rising by 6.6%, and an improvement in net interest margin by five basis points.
Raymond (NS:RYMD) James and DA Davidson have adjusted their stock price targets for the company. Raymond James increased its price target to $19.00, maintaining an Outperform rating, while DA Davidson raised its target to $16.00, retaining a neutral stance. These adjustments were influenced by the company's strong earnings and positive future outlook.
The company recently announced a significant $70 million common equity raise aimed at restructuring its balance sheet, a move expected to enhance profitability and improve earnings. This development, along with the impact of lower short-term rates, the repricing of short-duration certificate of deposit (CD) books, and upward repricing of fixed-rate loans, contributed to a more constructive outlook for Flushing Financial.
Flushing Financial Corporation demonstrated notable deposit growth at a 39% annualized rate and a moderate loan growth of 2%. The company reported strong liquidity with $3.9 billion on hand and uninsured deposits accounting for 15%. Despite a challenging rate environment, the company maintains a positive outlook, expecting stable loan balances and an improved funding mix. The company's strategic focus on community involvement and growth potential in Asian markets are among the recent developments.
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