Flushing Financial (FFIC) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a buy rating in a report released on Friday.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Flushing Financial from a hold rating to a buy rating and set a $31.00 target price for the company in a report on Monday, August 28th. Piper Jaffray Companies reiterated a hold rating and issued a $30.00 target price on shares of Flushing Financial in a report on Thursday, August 3rd. Sandler O’Neill downgraded Flushing Financial from a buy rating to a hold rating and set a $31.00 target price for the company. in a report on Thursday, November 30th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $30.00 target price on shares of Flushing Financial in a report on Sunday, October 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $30.25.

Flushing Financial (FFIC) opened at $28.26 on Friday. Flushing Financial has a 1 year low of $24.27 and a 1 year high of $31.96. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $808.40, a PE ratio of 17.21, a PEG ratio of 1.68 and a beta of 1.06.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, October 31st. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.07). Flushing Financial had a return on equity of 9.04% and a net margin of 19.50%. The company had revenue of $44.70 million for the quarter. research analysts predict that Flushing Financial will post 1.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.55%. Flushing Financial’s payout ratio is currently 42.11%.

In other Flushing Financial news, Director Donna M. Obrien sold 3,000 shares of Flushing Financial stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $27.33, for a total value of $81,990.00. Following the completion of the sale, the director now directly owns 50,925 shares in the company, valued at $1,391,780.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John E. Sr Roe, Sr. sold 3,629 shares of Flushing Financial stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $26.98, for a total value of $97,910.42. Following the completion of the sale, the director now owns 66,434 shares of the company’s stock, valued at $1,792,389.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,058 shares of company stock valued at $525,579. 4.86% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Flushing Financial in the third quarter valued at approximately $135,000. BNP Paribas Arbitrage SA grew its stake in Flushing Financial by 277.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock valued at $136,000 after acquiring an additional 3,553 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Flushing Financial in the second quarter valued at approximately $221,000. Legal & General Group Plc grew its stake in Flushing Financial by 20.8% in the first quarter. Legal & General Group Plc now owns 10,239 shares of the bank’s stock valued at $276,000 after acquiring an additional 1,761 shares during the period. Finally, Schroder Investment Management Group grew its stake in Flushing Financial by 2.4% in the second quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock valued at $284,000 after acquiring an additional 233 shares during the period. 77.36% of the stock is owned by hedge funds and other institutional investors.

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About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).

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