Flushing Financial (NASDAQ:FFIC) Stock Rating Lowered by StockNews.com

Flushing Financial (NASDAQ:FFIC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Several other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on Flushing Financial from $15.50 to $14.00 and set a “market perform” rating on the stock in a research report on Friday, April 5th. Raymond James boosted their price objective on shares of Flushing Financial from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, DA Davidson decreased their price objective on shares of Flushing Financial from $17.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Flushing Financial currently has a consensus rating of “Hold” and a consensus target price of $15.17.

Flushing Financial Stock Down 0.1 %

Shares of NASDAQ:FFIC opened at $11.37 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock’s 50-day moving average price is $12.25 and its 200-day moving average price is $13.80. The stock has a market capitalization of $330.51 million, a P/E ratio of 11.37 and a beta of 0.73. Flushing Financial has a 12-month low of $9.28 and a 12-month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $112.58 million for the quarter, compared to analysts’ expectations of $47.12 million. Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, equities analysts anticipate that Flushing Financial will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 19,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now directly owns 32,391 shares in the company, valued at approximately $427,885.11. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the sale, the executive vice president now directly owns 73,493 shares in the company, valued at approximately $926,746.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares of the company’s stock, valued at $427,885.11. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Flushing Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Flushing Financial by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,565,212 shares of the bank’s stock worth $20,551,000 after purchasing an additional 6,158 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Flushing Financial by 1.1% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,158,402 shares of the bank’s stock worth $15,210,000 after buying an additional 12,602 shares during the period. Gabelli Funds LLC boosted its holdings in Flushing Financial by 0.7% in the 3rd quarter. Gabelli Funds LLC now owns 490,439 shares of the bank’s stock worth $6,439,000 after buying an additional 3,376 shares during the period. Bank of New York Mellon Corp boosted its holdings in Flushing Financial by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 211,705 shares of the bank’s stock worth $2,780,000 after buying an additional 3,922 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Flushing Financial by 290.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,404 shares of the bank’s stock worth $1,443,000 after buying an additional 85,139 shares during the period. 67.10% of the stock is currently 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.