Wall Street Zen Downgrades Flushing Financial (NASDAQ:FFIC) to Hold

Flushing Financial (NASDAQ:FFIC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other equities research analysts also recently commented on the stock. Zacks Research upgraded shares of Flushing Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “sell (d+)” rating on shares of Flushing Financial in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Flushing Financial Stock Up 1.1%

Flushing Financial stock opened at $15.43 on Friday. Flushing Financial has a fifty-two week low of $10.65 and a fifty-two week high of $18.59. The firm has a market capitalization of $521.19 million, a price-to-earnings ratio of -12.97 and a beta of 0.87. The stock’s fifty day moving average is $13.77 and its two-hundred day moving average is $12.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, February 15th. The bank reported $0.58 earnings per share for the quarter. Flushing Financial had a negative net margin of 6.93% and a positive return on equity of 4.98%. The business had revenue of $54.81 million during the quarter. Analysts predict that Flushing Financial will post 1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIC. Tower Research Capital LLC TRC raised its holdings in shares of Flushing Financial by 75.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after purchasing an additional 1,650 shares during the period. Police & Firemen s Retirement System of New Jersey raised its holdings in Flushing Financial by 37.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock valued at $96,000 after buying an additional 2,194 shares during the period. Aigen Investment Management LP acquired a new position in Flushing Financial during the first quarter valued at approximately $127,000. ProShare Advisors LLC purchased a new stake in Flushing Financial during the third quarter worth approximately $152,000. Finally, Savant Capital LLC acquired a new stake in shares of Flushing Financial in the third quarter worth $182,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Flushing Financial Company Profile

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.