Flushing Financial (NASDAQ:FFIC) Downgraded by TheStreet

TheStreet cut shares of Flushing Financial (NASDAQ:FFIC) from a b- rating to a c+ rating in a research note released on Thursday morning, TheStreetRatingsTable reports.

Other analysts have also recently issued research reports about the company. ValuEngine cut Flushing Financial from a hold rating to a sell rating in a research report on Thursday, June 13th. Sandler O’Neill cut Flushing Financial from a buy rating to a hold rating in a research report on Wednesday, July 24th. BidaskClub raised Flushing Financial from a sell rating to a hold rating in a research report on Tuesday, August 13th. Gabelli reaffirmed a buy rating on shares of Flushing Financial in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut Flushing Financial from a hold rating to a sell rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $25.00.

Shares of NASDAQ:FFIC opened at $19.86 on Thursday. Flushing Financial has a fifty-two week low of $18.80 and a fifty-two week high of $26.82. The business has a 50-day moving average of $21.09 and a two-hundred day moving average of $21.98. The stock has a market capitalization of $538.95 million, a P/E ratio of 10.24, a P/E/G ratio of 4.61 and a beta of 0.84. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.17 and a quick ratio of 1.17.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Flushing Financial had a return on equity of 9.44% and a net margin of 16.94%. The company had revenue of $42.46 million during the quarter, compared to analyst estimates of $45.20 million. As a group, research analysts expect that Flushing Financial will post 1.6 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Frontier Capital Management Co. LLC increased its stake in shares of Flushing Financial by 1.6% in the first quarter. Frontier Capital Management Co. LLC now owns 2,561,121 shares of the bank’s stock worth $56,165,000 after purchasing an additional 41,127 shares during the period. BlackRock Inc. increased its stake in shares of Flushing Financial by 3.7% in the second quarter. BlackRock Inc. now owns 2,137,920 shares of the bank’s stock worth $47,462,000 after purchasing an additional 76,939 shares during the period. Northern Trust Corp increased its stake in shares of Flushing Financial by 0.7% in the second quarter. Northern Trust Corp now owns 1,159,245 shares of the bank’s stock worth $25,736,000 after purchasing an additional 7,643 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Flushing Financial by 1.3% in the second quarter. Gamco Investors INC. ET AL now owns 1,093,730 shares of the bank’s stock worth $24,281,000 after purchasing an additional 13,831 shares during the period. Finally, Teton Advisors Inc. increased its stake in shares of Flushing Financial by 6.0% in the second quarter. Teton Advisors Inc. now owns 665,572 shares of the bank’s stock worth $14,776,000 after purchasing an additional 37,380 shares during the period. Institutional investors and hedge funds own 76.95% of the company’s stock.

Flushing Financial Company Profile

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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