Flushing Financial (NASDAQ:FFIC) PT Lowered to $13.00

Flushing Financial (NASDAQ:FFIC) had its price target reduced by analysts at Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 15.25% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. DA Davidson reduced their price objective on shares of Flushing Financial from $17.00 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. Raymond James increased their price objective on shares of Flushing Financial from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.17.

Flushing Financial Stock Down 0.9 %

FFIC stock traded down $0.10 during trading hours on Friday, reaching $11.28. 17,239 shares of the stock were exchanged, compared to its average volume of 191,968. The firm’s 50-day moving average is $12.29 and its 200-day moving average is $13.82. The company has a market cap of $327.91 million, a price-to-earnings ratio of 11.28 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 1.04. Flushing Financial has a 12 month low of $9.28 and a 12 month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. The firm had revenue of $112.58 million for the quarter, compared to the consensus estimate of $47.12 million. During the same quarter last year, the company posted $0.10 EPS. On average, equities research analysts expect that Flushing Financial will post 0.75 earnings per share for the current year.

Insider Activity at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now directly owns 32,391 shares in the company, valued at $427,885.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Francis W. Korzekwinski sold 7,649 shares of Flushing Financial stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the sale, the executive vice president now directly owns 73,493 shares in the company, valued at $926,746.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares of the company’s stock, valued at $427,885.11. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flushing Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Flushing Financial in the first quarter valued at approximately $32,000. Emerald Mutual Fund Advisers Trust acquired a new position in Flushing Financial during the third quarter valued at approximately $149,000. EMC Capital Management raised its position in Flushing Financial by 116.7% during the third quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock valued at $151,000 after purchasing an additional 6,189 shares in the last quarter. SG Americas Securities LLC raised its position in Flushing Financial by 72.4% during the third quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock valued at $209,000 after purchasing an additional 6,697 shares in the last quarter. Finally, Mendon Capital Advisors Corp acquired a new position in Flushing Financial during the fourth quarter valued at approximately $287,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.