Flushing Financial (NASDAQ:FFIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $25.00 price target on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.89% from the stock’s previous close.
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. “
A number of other research firms also recently commented on FFIC. BidaskClub upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $28.13.
Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Thursday, January 31st. The bank reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.06. Flushing Financial had a net margin of 20.61% and a return on equity of 10.32%. The firm had revenue of $36.65 million for the quarter, compared to the consensus estimate of $44.20 million. As a group, equities analysts anticipate that Flushing Financial will post 1.77 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC bought a new stake in shares of Flushing Financial during the 4th quarter worth about $172,000. Citigroup Inc. raised its position in shares of Flushing Financial by 13.9% during the 4th quarter. Citigroup Inc. now owns 11,507 shares of the bank’s stock worth $247,000 after buying an additional 1,403 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Flushing Financial during the 3rd quarter worth about $293,000. MetLife Investment Advisors LLC raised its position in shares of Flushing Financial by 55.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,803 shares of the bank’s stock worth $508,000 after buying an additional 7,381 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in shares of Flushing Financial during the 3rd quarter worth about $514,000. Institutional investors own 77.22% of the company’s stock.
Flushing Financial Company Profile
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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