Weekly Research Analysts’ Ratings Changes for Flushing Financial (FFIC)

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Flushing Financial (NASDAQ: FFIC) recently received a number of ratings updates from brokerages and research firms:

  • 2/19/2019 – Flushing Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $26.00 price target on the stock. According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “
  • 2/18/2019 – Flushing Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 2/15/2019 – Flushing Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “
  • 2/13/2019 – Flushing Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “
  • 2/12/2019 – Flushing Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 2/7/2019 – Flushing Financial was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 2/5/2019 – Flushing Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “
  • 2/4/2019 – Flushing Financial was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock. According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “
  • 1/25/2019 – Flushing Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/19/2019 – Flushing Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 1/4/2019 – Flushing Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “

Shares of NASDAQ FFIC opened at $23.41 on Wednesday. Flushing Financial Co. has a 12-month low of $20.27 and a 12-month high of $28.79. The firm has a market capitalization of $649.91 million, a P/E ratio of 12.07, a P/E/G ratio of 1.98 and a beta of 0.85. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.15 and a quick ratio of 1.15.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Thursday, January 31st. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.06. Flushing Financial had a return on equity of 10.32% and a net margin of 20.61%. The firm had revenue of $36.65 million during the quarter, compared to the consensus estimate of $44.20 million. On average, analysts forecast that Flushing Financial Co. will post 1.77 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in FFIC. Frontier Capital Management Co. LLC grew its stake in shares of Flushing Financial by 8.6% during the third quarter. Frontier Capital Management Co. LLC now owns 2,520,224 shares of the bank’s stock valued at $61,493,000 after acquiring an additional 198,641 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Flushing Financial by 11.3% during the third quarter. Wedge Capital Management L L P NC now owns 59,310 shares of the bank’s stock valued at $1,447,000 after acquiring an additional 6,021 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Flushing Financial by 5.9% during the third quarter. Wells Fargo & Company MN now owns 56,524 shares of the bank’s stock valued at $1,379,000 after acquiring an additional 3,172 shares in the last quarter. BlackRock Inc. grew its stake in shares of Flushing Financial by 1.2% during the third quarter. BlackRock Inc. now owns 2,068,318 shares of the bank’s stock valued at $50,468,000 after acquiring an additional 24,823 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of Flushing Financial during the third quarter valued at about $293,000. Hedge funds and other institutional investors own 77.68% of the company’s stock.

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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.

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