Flushing Financial (FFIC) Lifted to “Buy” at ValuEngine
Flushing Financial (NASDAQ:FFIC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, August 28th. Piper Jaffray Companies restated a “hold” rating and set a $30.00 price objective on shares of Flushing Financial in a research report on Thursday, August 3rd. Sandler O’Neill downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Thursday. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 price objective on shares of Flushing Financial in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Flushing Financial presently has a consensus rating of “Hold” and an average target price of $30.25.
Shares of Flushing Financial (NASDAQ:FFIC) traded down $0.23 during mid-day trading on Friday, hitting $28.05. The company had a trading volume of 86,624 shares, compared to its average volume of 74,575. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.23. The company has a market capitalization of $808.40, a PE ratio of 17.21, a P/E/G ratio of 1.68 and a beta of 1.07. Flushing Financial has a fifty-two week low of $24.27 and a fifty-two week high of $31.96.
In other news, Director John E. Sr Roe, Sr. sold 7,429 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $27.06, for a total transaction of $201,028.74. Following the completion of the transaction, the director now directly owns 66,434 shares in the company, valued at $1,797,704.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John E. Sr Roe, Sr. sold 3,629 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $26.98, for a total transaction of $97,910.42. Following the transaction, the director now owns 66,434 shares of the company’s stock, valued at $1,792,389.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,058 shares of company stock valued at $380,929. Company insiders own 4.86% of the company’s stock.
Large investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its holdings in shares of Flushing Financial by 3.5% during the first quarter. Teachers Advisors LLC now owns 51,793 shares of the bank’s stock worth $1,392,000 after buying an additional 1,744 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Flushing Financial by 3.5% during 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 in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Flushing Financial during the second quarter worth $522,000. State Street Corp increased its holdings in shares of Flushing Financial by 13.3% during 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 in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in shares of Flushing Financial by 1.8% during the third quarter. Hennessy Advisors Inc. now owns 287,000 shares of the bank’s stock worth $8,530,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.
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Flushing Financial Company Profile
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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