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

Flushing Financial (NASDAQ:FFIC - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Tuesday.

Flushing Financial Trading Down 2.7 %

FFIC traded down $0.35 during mid-day trading on Tuesday, reaching $12.74. The stock had a trading volume of 361,983 shares, compared to its average volume of 234,964. The firm's fifty day simple moving average is $14.02 and its two-hundred day simple moving average is $14.97. The stock has a market capitalization of $430.32 million, a P/E ratio of -12.61 and a beta of 0.79. Flushing Financial has a 52 week low of $10.74 and a 52 week high of $18.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. On average, equities analysts predict that Flushing Financial will post 1.2 EPS for the current year.

Remove Ads

Insider Activity at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the completion of the transaction, the executive vice president now directly owns 32,336 shares in the company, valued at approximately $417,781.12. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Flushing Financial by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,813 shares of the bank's stock worth $226,000 after purchasing an additional 684 shares during the period. New York State Common Retirement Fund raised its stake in Flushing Financial by 27.8% during the 4th quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank's stock worth $92,000 after buying an additional 1,400 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Flushing Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 234,974 shares of the bank's stock worth $3,355,000 after acquiring an additional 1,738 shares in the last quarter. R Squared Ltd acquired a new position in Flushing Financial in the fourth quarter valued at about $28,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Flushing Financial by 15.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank's stock worth $239,000 after acquiring an additional 2,219 shares in the last quarter. Institutional investors 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.