Flushing Financial (NASDAQ:FFIC) Stock Rating Lowered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Flushing Financial (NASDAQ:FFIC) from a market perform rating to an underperform rating in a research report report published on Monday morning, Briefing.com Automated Import reports. They currently have $19.00 target price on the bank’s stock, down from their prior target price of $21.50.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Flushing Financial from a hold rating to a strong-buy rating and set a $26.00 target price on the stock in a research note on Thursday, October 31st. Sandler O’Neill raised Flushing Financial from a hold rating to a buy rating and boosted their target price for the company from $22.50 to $23.00 in a research note on Tuesday, October 1st. BidaskClub raised Flushing Financial from a sell rating to a hold rating in a research note on Saturday, September 14th. Finally, TheStreet cut Flushing Financial from a b- rating to a c+ rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $22.67.

Shares of FFIC traded down $0.21 during mid-day trading on Monday, hitting $21.38. 81,600 shares of the company’s stock traded hands, compared to its average volume of 61,136. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.52. Flushing Financial has a 1 year low of $18.80 and a 1 year high of $23.75. The firm has a market capitalization of $602.38 million, a P/E ratio of 11.02, a PEG ratio of 4.77 and a beta of 0.84. The business’s 50-day moving average price is $21.01 and its 200-day moving average price is $21.10.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, October 29th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Flushing Financial had a return on equity of 9.10% and a net margin of 14.58%. The firm had revenue of $39.99 million for the quarter. Sell-side analysts anticipate that Flushing Financial will post 1.6 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of FFIC. Nisa Investment Advisors LLC grew its stake in Flushing Financial by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the bank’s stock worth $31,000 after purchasing an additional 700 shares during the period. Swiss National Bank grew its stake in Flushing Financial by 3.6% in the second quarter. Swiss National Bank now owns 49,423 shares of the bank’s stock worth $1,097,000 after purchasing an additional 1,700 shares during the period. Gamco Investors INC. ET AL grew its stake in Flushing Financial by 1.3% in the second quarter. Gamco Investors INC. ET AL now owns 1,093,730 shares of the bank’s stock worth $24,281,000 after purchasing an additional 13,831 shares during the period. Teton Advisors Inc. boosted its holdings in Flushing Financial by 6.0% in the second quarter. Teton Advisors Inc. now owns 665,572 shares of the bank’s stock worth $14,776,000 after acquiring an additional 37,380 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Flushing Financial by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 325,286 shares of the bank’s stock worth $7,107,000 after acquiring an additional 1,337 shares in the last quarter. 76.68% of the stock is currently owned by institutional investors.

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, demand accounts, NOW accounts, and certificates of deposit.

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