Flushing Financial Corporation (NASDAQ:FFIC) Given Consensus Rating of “Hold” by Analysts
Flushing Financial Corporation (NASDAQ:FFIC) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.67.
A number of research analysts have recently commented on the company. Piper Jaffray Companies restated a “hold” rating and issued a $30.00 target price on shares of Flushing Financial Corporation in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $30.00 target price on shares of Flushing Financial Corporation in a research note on Thursday. BidaskClub upgraded Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Friday, July 28th. Finally, ValuEngine upgraded Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.
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Shares of Flushing Financial Corporation (FFIC) opened at 27.54 on Friday. The company has a market cap of $802.38 million, a P/E ratio of 16.03 and a beta of 1.11. The stock’s 50 day moving average price is $28.32 and its 200 day moving average price is $28.00. Flushing Financial Corporation has a 12-month low of $20.95 and a 12-month high of $31.96.
Flushing Financial Corporation (NASDAQ:FFIC) last released its earnings results on Tuesday, July 25th. The bank reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. The company had revenue of $45.57 million during the quarter, compared to analysts’ expectations of $46.79 million. Flushing Financial Corporation had a return on equity of 9.23% and a net margin of 19.96%. During the same quarter last year, the business posted $0.39 EPS. On average, analysts forecast that Flushing Financial Corporation will post $1.74 EPS for the current year.
In other news, COO Maria A. Grasso sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $26.77, for a total value of $107,080.00. Following the completion of the transaction, the chief operating officer now owns 74,223 shares in the company, valued at approximately $1,986,949.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.86% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Flushing Financial Corporation by 277.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock worth $136,000 after buying an additional 3,553 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Flushing Financial Corporation during the first quarter worth about $133,000. Bank of Montreal Can boosted its position in shares of Flushing Financial Corporation by 60.0% in the first quarter. Bank of Montreal Can now owns 7,450 shares of the bank’s stock worth $200,000 after buying an additional 2,793 shares during the last quarter. Oxford Asset Management bought a new position in shares of Flushing Financial Corporation during the first quarter worth about $212,000. Finally, Karp Capital Management Corp bought a new position in shares of Flushing Financial Corporation during the first quarter worth about $251,000. Institutional investors own 77.29% of the company’s stock.
Flushing Financial Corporation Company Profile
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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