Flushing Financial (NASDAQ:FFIC) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Flushing Financial (NASDAQ:FFIC) from a sell rating to a strong sell rating in a research report released on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Flushing Financial from a sell rating to a hold rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods downgraded shares of Flushing Financial from a market perform rating to an underperform rating and cut their price objective for the company from $21.50 to $19.00 in a research report on Monday, November 4th. Finally, Zacks Investment Research raised shares of Flushing Financial from a hold rating to a strong-buy rating and set a $24.00 price objective for the company in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Flushing Financial currently has an average rating of Hold and an average target price of $22.00.

Shares of FFIC stock opened at $20.25 on Friday. Flushing Financial has a 1 year low of $18.80 and a 1 year high of $23.75. The firm has a fifty day moving average price of $20.74 and a 200-day moving average price of $20.68. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $575.82 million, a price-to-earnings ratio of 14.06, a PEG ratio of 1.32 and a beta of 0.82.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Flushing Financial had a net margin of 14.31% and a return on equity of 8.37%. The business had revenue of $46.22 million for the quarter. Equities research analysts expect that Flushing Financial will post 1.78 EPS for the current year.

In related news, EVP Theresa Kelly sold 5,000 shares of Flushing Financial stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.53, for a total transaction of $102,650.00. Following the transaction, the executive vice president now owns 35,151 shares in the company, valued at approximately $721,650.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Maria A. Grasso sold 4,000 shares of Flushing Financial stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $20.55, for a total transaction of $82,200.00. Following the transaction, the chief operating officer now owns 68,882 shares in the company, valued at approximately $1,415,525.10. The disclosure for this sale can be found here. 5.19% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in shares of Flushing Financial by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 751,360 shares of the bank’s stock valued at $16,233,000 after buying an additional 121,000 shares in the last quarter. Teton Advisors Inc. lifted its stake in shares of Flushing Financial by 0.4% during the 3rd quarter. Teton Advisors Inc. now owns 668,072 shares of the bank’s stock valued at $13,498,000 after buying an additional 2,500 shares in the last quarter. State Street Corp lifted its stake in shares of Flushing Financial by 2.5% during the 4th quarter. State Street Corp now owns 602,577 shares of the bank’s stock valued at $13,019,000 after buying an additional 14,684 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Flushing Financial by 54.0% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 306,899 shares of the bank’s stock valued at $6,631,000 after buying an additional 107,640 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Flushing Financial by 25.6% during the 4th quarter. Bank of New York Mellon Corp now owns 277,963 shares of the bank’s stock valued at $6,005,000 after buying an additional 56,671 shares in the last quarter. Institutional investors own 74.87% 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. It offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.

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