Flushing Financial (NASDAQ:FFIC) Upgraded by StockNews.com to "Hold"

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

A number of other equities research analysts also recently issued reports on the company. Raymond James increased their price target on Flushing Financial from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Piper Sandler lowered Flushing Financial from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods raised their price target on 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Flushing Financial currently has an average rating of "Hold" and a consensus target price of $15.50.

Flushing Financial Stock Performance

Shares of FFIC traded up $0.88 during midday trading on Monday, reaching $16.17. 465,130 shares of the stock were exchanged, compared to its average volume of 181,848. The stock's 50 day simple moving average is $14.38 and its 200 day simple moving average is $13.44. The company has a market cap of $470.06 million, a P/E ratio of 18.17 and a beta of 0.76. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. The firm had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. During the same quarter in the previous year, the firm posted $0.26 EPS. On average, sell-side analysts expect that Flushing Financial will post 0.69 earnings per share for the current year.

Insider Transactions at Flushing Financial

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of Flushing Financial stock in a transaction dated 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 owns 83,238 shares in the company, valued at $1,122,880.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.31% of the stock is owned by insiders.

Institutional Trading of Flushing Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC grew its holdings in shares of Flushing Financial by 1.3% during the second quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank's stock worth $896,000 after purchasing an additional 907 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Flushing Financial by 4,000.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank's stock worth $30,000 after buying an additional 2,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Flushing Financial during the 1st quarter worth approximately $32,000. CWM LLC increased its position in Flushing Financial by 87.0% in the 2nd quarter. CWM LLC now owns 5,534 shares of the bank's stock valued at $73,000 after acquiring an additional 2,575 shares during the period. Finally, EntryPoint Capital LLC bought a new position in shares of Flushing Financial during the first quarter valued at $35,000. 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.

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