Sandler O’Neill upgraded shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a buy rating in a research report report published on Thursday, MarketBeat Ratings reports. The brokerage currently has $31.00 price objective on the bank’s stock.
Several other equities research analysts also recently commented on FFIC. Zacks Investment Research raised Flushing Financial from a hold rating to a buy rating and set a $32.00 target price for the company in a report on Friday, November 3rd. Piper Jaffray Companies reissued a hold rating and issued a $28.00 price objective on shares of Flushing Financial in a research note on Friday, November 10th. ValuEngine raised Flushing Financial from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, BidaskClub downgraded Flushing Financial from a hold rating to a sell rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $30.25.
Shares of Flushing Financial (FFIC) opened at $27.57 on Thursday. Flushing Financial has a fifty-two week low of $24.27 and a fifty-two week high of $31.69. The company has a market capitalization of $788.17, a price-to-earnings ratio of 17.67, a PEG ratio of 1.40 and a beta of 1.05. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.23.
Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, January 30th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.09). Flushing Financial had a net margin of 16.79% and a return on equity of 8.59%. The company had revenue of $46.12 million for the quarter. sell-side analysts anticipate that Flushing Financial will post 1.99 EPS for the current year.
In related news, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $28.93, for a total value of $144,650.00. Following the completion of the sale, the director now directly owns 41,066 shares of the company’s stock, valued at approximately $1,188,039.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donna M. Obrien sold 6,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $27.73, for a total value of $166,380.00. The disclosure for this sale can be found here. 4.86% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in FFIC. SG Americas Securities LLC purchased a new stake in Flushing Financial in the 3rd quarter worth about $135,000. Dynamic Technology Lab Private Ltd purchased a new stake in Flushing Financial in the 2nd quarter worth about $221,000. Teacher Retirement System of Texas acquired a new position in Flushing Financial in the 4th quarter worth about $263,000. OxFORD Asset Management LLP acquired a new position in Flushing Financial in the 3rd quarter worth about $298,000. Finally, Schroder Investment Management Group increased its position in Flushing Financial by 96.1% in the 4th quarter. Schroder Investment Management Group now owns 12,021 shares of the bank’s stock worth $331,000 after purchasing an additional 5,891 shares during the last quarter. 77.21% 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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