Other analysts have also recently issued reports about the stock. ValuEngine cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Keefe, Bruyette & Woods upgraded shares of Flushing Financial from an “underperform” rating to a “market perform” rating in a research note on Wednesday, April 1st. Finally, Zacks Investment Research cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.33.
NASDAQ FFIC traded down $1.16 on Tuesday, hitting $11.10. 7,746 shares of the company’s stock traded hands, compared to its average volume of 132,614. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 3.03. Flushing Financial has a 1-year low of $8.86 and a 1-year high of $22.97. The firm’s 50-day moving average price is $11.48 and its two-hundred day moving average price is $16.67. The firm has a market capitalization of $359.16 million, a PE ratio of 9.66, a P/E/G ratio of 2.06 and a beta of 0.78.
Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. Flushing Financial had a net margin of 11.66% and a return on equity of 7.65%. The business had revenue of $37.96 million during the quarter, compared to analysts’ expectations of $43.70 million. On average, research analysts anticipate that Flushing Financial will post 1.04 earnings per share for the current fiscal year.
In related news, Director Sam Sang Ki Han purchased 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average price of $11.66 per share, with a total value of $40,810.00. Following the acquisition, the director now owns 58,650 shares in the company, valued at $683,859. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael A. Azarian purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $11.00 per share, with a total value of $55,000.00. Following the acquisition, the director now owns 13,900 shares in the company, valued at approximately $152,900. The disclosure for this purchase can be found here. In the last three months, insiders purchased 10,500 shares of company stock valued at $117,300. 5.19% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FFIC. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Flushing Financial by 105.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,537 shares of the bank’s stock worth $34,000 after acquiring an additional 1,303 shares in the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Flushing Financial during the fourth quarter worth $51,000. BNP Paribas Arbitrage SA grew its holdings in shares of Flushing Financial by 15.9% during the first quarter. BNP Paribas Arbitrage SA now owns 8,332 shares of the bank’s stock worth $111,000 after buying an additional 1,140 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Flushing Financial by 51.7% during the first quarter. SG Americas Securities LLC now owns 9,612 shares of the bank’s stock worth $128,000 after buying an additional 3,274 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Flushing Financial during the first quarter worth $133,000. 74.05% of the stock is 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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