Flushing Financial (NASDAQ:FFIC) Downgraded by StockNews.com to "Sell"

Flushing Financial (NASDAQ:FFIC - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Friday.

Flushing Financial Trading Down 2.7 %

Shares of NASDAQ:FFIC traded down $0.37 during midday trading on Friday, reaching $13.58. 291,107 shares of the company's stock were exchanged, compared to its average volume of 361,178. The firm's 50 day simple moving average is $15.34 and its two-hundred day simple moving average is $15.05. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $457.10 million, a price-to-earnings ratio of -13.45 and a beta of 0.81. Flushing Financial has a fifty-two week low of $10.74 and a fifty-two week high of $18.59.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. As a group, sell-side analysts forecast that Flushing Financial will post 1.24 EPS for the current fiscal year.

Institutional Trading of Flushing Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Flushing Financial by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 694,216 shares of the bank's stock valued at $10,124,000 after acquiring an additional 5,128 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Flushing Financial by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank's stock worth $3,401,000 after purchasing an additional 4,876 shares in the last quarter. Barclays PLC boosted its holdings in shares of Flushing Financial by 56.8% in the 3rd quarter. Barclays PLC now owns 51,833 shares of the bank's stock valued at $756,000 after buying an additional 18,773 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Flushing Financial by 531.8% in the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank's stock valued at $4,292,000 after buying an additional 274,720 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Flushing Financial in the fourth quarter valued at $450,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

About Flushing Financial

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.