Flushing Financial Corporation (NASDAQ:FFIC) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday, July 25th.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Flushing Financial Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Piper Jaffray Companies reiterated a “hold” rating and issued a $28.00 price target on shares of Flushing Financial Corporation in a report on Friday, July 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $30.00 price target on shares of Flushing Financial Corporation in a report on Tuesday, May 2nd. ValuEngine upgraded Flushing Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Sandler O’Neill upgraded Flushing Financial Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.00.
Shares of Flushing Financial Corporation (NASDAQ:FFIC) opened at 27.32 on Tuesday. The firm has a market cap of $795.97 million, a PE ratio of 15.90 and a beta of 1.11. The firm’s 50-day moving average price is $28.29 and its 200 day moving average price is $27.96. Flushing Financial Corporation has a 1-year low of $20.95 and a 1-year high of $31.96.
Flushing Financial Corporation (NASDAQ:FFIC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Flushing Financial Corporation had a return on equity of 9.23% and a net margin of 19.96%. The firm had revenue of $45.57 million for the quarter, compared to analyst estimates of $46.79 million. During the same quarter in the prior year, the company earned $0.39 EPS. On average, equities research analysts forecast that Flushing Financial Corporation will post $1.74 EPS for the current fiscal year.
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In other Flushing Financial Corporation news, COO Maria A. Grasso sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $26.77, for a total value of $107,080.00. Following the completion of the transaction, the chief operating officer now directly owns 74,223 shares in the company, valued at approximately $1,986,949.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.86% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FFIC. Norges Bank purchased a new stake in Flushing Financial Corporation during the fourth quarter worth approximately $10,501,000. Frontier Capital Management Co. LLC increased its stake in Flushing Financial Corporation by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 2,414,907 shares of the bank’s stock worth $64,889,000 after buying an additional 71,447 shares during the last quarter. State Street Corp increased its stake in Flushing Financial Corporation by 13.3% in the second quarter. State Street Corp now owns 593,185 shares of the bank’s stock worth $16,725,000 after buying an additional 69,666 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Flushing Financial Corporation by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,237,747 shares of the bank’s stock worth $60,129,000 after buying an additional 55,447 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Flushing Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,323,206 shares of the bank’s stock worth $35,554,000 after buying an additional 44,975 shares during the last quarter. Institutional investors and hedge funds own 76.97% of the company’s stock.
About Flushing Financial Corporation
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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