Flushing Financial (FFIC) Upgraded by BidaskClub to “Hold”

Flushing Financial (NASDAQ:FFIC) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other research firms have also recently weighed in on FFIC. Sandler O’Neill cut Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a report on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded Flushing Financial from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Friday, November 3rd. ValuEngine upgraded Flushing Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $28.00 price objective on shares of Flushing Financial in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Flushing Financial presently has an average rating of “Hold” and an average target price of $30.25.

Shares of Flushing Financial (NASDAQ FFIC) traded up $0.28 on Thursday, reaching $26.75. The company’s stock had a trading volume of 99,130 shares, compared to its average volume of 71,414. Flushing Financial has a 12-month low of $24.27 and a 12-month high of $31.69. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $764.73, a PE ratio of 18.84, a P/E/G ratio of 1.47 and a beta of 1.05.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, January 30th. The bank reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.09). Flushing Financial had a net margin of 16.79% and a return on equity of 8.59%. The business had revenue of $46.12 million for the quarter. equities analysts expect that Flushing Financial will post 1.84 earnings per share for the current fiscal year.

In other Flushing Financial news, Director Donna M. Obrien sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $27.73, for a total value of $166,380.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sam Sang Ki Han sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $28.93, for a total value of $144,650.00. Following the completion of the sale, the director now owns 41,066 shares in the company, valued at approximately $1,188,039.38. The disclosure for this sale can be found here. Insiders have sold a total of 18,429 shares of company stock worth $512,059 in the last quarter. 4.86% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFIC. Schwab Charles Investment Management Inc. lifted its stake in Flushing Financial by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 128,161 shares of the bank’s stock valued at $3,613,000 after acquiring an additional 1,490 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Flushing Financial by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 30,381 shares of the bank’s stock valued at $857,000 after acquiring an additional 230 shares in the last quarter. Teachers Advisors LLC lifted its stake in Flushing Financial by 8.3% in the 2nd quarter. Teachers Advisors LLC now owns 56,093 shares of the bank’s stock valued at $1,581,000 after acquiring an additional 4,300 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Flushing Financial by 0.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 100,927 shares of the bank’s stock valued at $2,845,000 after acquiring an additional 785 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its stake in Flushing Financial by 7.1% in the 2nd quarter. Nationwide Fund Advisors now owns 33,399 shares of the bank’s stock valued at $942,000 after acquiring an additional 2,224 shares in the last quarter. Hedge funds and other institutional investors own 76.49% 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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