Flushing Financial (NASDAQ:FFIC) Lifted to Hold at StockNews.com

Flushing Financial (NASDAQ:FFIC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

A number of other research analysts also recently issued reports on FFIC. Piper Sandler downgraded Flushing Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $15.00 to $16.50 in a research note on Tuesday, July 30th. Raymond James boosted their price target on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Trading Up 5.8 %

NASDAQ:FFIC traded up $0.88 on Monday, reaching $16.17. 465,130 shares of the stock traded hands, compared to its average volume of 181,848. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial has a 1-year low of $10.74 and a 1-year high of $18.00. The company’s 50 day moving average is $14.38 and its 200-day moving average is $13.44. The firm has a market capitalization of $470.06 million, a price-to-earnings ratio of 18.17 and a beta of 0.76.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. During the same quarter last year, the firm earned $0.26 earnings per share. Equities research analysts anticipate that Flushing Financial will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Flushing Financial

In related news, COO Maria A. Grasso sold 4,500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now directly owns 83,238 shares in the company, valued at $1,122,880.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.31% of the company’s stock.

Institutional Investors Weigh In On Flushing Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Flushing Financial by 531.8% during the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock worth $4,292,000 after purchasing an additional 274,720 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Flushing Financial in the 1st quarter valued at $3,385,000. American Century Companies Inc. lifted its stake in Flushing Financial by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock valued at $5,947,000 after acquiring an additional 62,659 shares in the last quarter. Empowered Funds LLC boosted its holdings in Flushing Financial by 183.4% during the 1st quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock worth $1,025,000 after acquiring an additional 52,627 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Flushing Financial by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after acquiring an additional 46,871 shares in the last quarter. Institutional investors and hedge funds own 67.10% 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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.