Flushing Financial (NASDAQ:FFIC) PT Raised to $15.00 at Keefe, Bruyette & Woods

Flushing Financial (NASDAQ:FFIC) had its price target upped by analysts at Keefe, Bruyette & Woods from $13.00 to $15.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 3.02% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $15.00 to $16.50 in a research report on Tuesday. Finally, Raymond James increased their price target on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Flushing Financial has an average rating of “Hold” and a consensus target price of $15.50.

Flushing Financial Stock Down 1.2 %

FFIC traded down $0.17 during trading hours on Thursday, hitting $14.56. 8,882 shares of the company’s stock were exchanged, compared to its average volume of 186,461. Flushing Financial has a 12-month low of $10.74 and a 12-month high of $18.00. The firm has a 50 day moving average of $13.34 and a 200 day moving average of $13.14. The firm has a market cap of $423.26 million, a P/E ratio of 14.56 and a beta of 0.77. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. The business had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. During the same quarter in the prior year, the business posted $0.26 EPS. Analysts predict that Flushing Financial will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FFIC. Acadian Asset Management LLC bought a new stake in shares of Flushing Financial during the 1st quarter worth $3,385,000. Empowered Funds LLC lifted its holdings in shares of Flushing Financial by 183.4% during the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 52,627 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Flushing Financial by 0.4% during the third quarter. Vanguard Group Inc. now owns 1,565,212 shares of the bank’s stock valued at $20,551,000 after purchasing an additional 6,158 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Flushing Financial by 5.4% during the first quarter. Swiss National Bank now owns 54,223 shares of the bank’s stock valued at $684,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Flushing Financial during the fourth quarter valued at $307,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.