Flushing Financial (NASDAQ:FFIC) Raised to Buy at StockNews.com

Flushing Financial (NASDAQ:FFICGet Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Flushing Financial Trading Down 0.4 %

Shares of FFIC stock opened at $21.01 on Wednesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $629.92 million, a price-to-earnings ratio of 7.56 and a beta of 0.71. The stock has a 50 day simple moving average of $21.52 and a 200-day simple moving average of $21.92. Flushing Financial has a 1-year low of $19.88 and a 1-year high of $25.95.

Flushing Financial (NASDAQ:FFICGet Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.14. Flushing Financial had a return on equity of 13.26% and a net margin of 28.96%. During the same quarter in the prior year, the business posted $0.73 earnings per share. On average, equities research analysts expect that Flushing Financial will post 2.39 EPS for the current fiscal year.

Insider Activity at Flushing Financial

In related news, EVP Francis W. Korzekwinski sold 5,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $22.17, for a total value of $110,850.00. Following the completion of the transaction, the executive vice president now directly owns 71,952 shares of the company’s stock, valued at approximately $1,595,175.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Flushing Financial

Large investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can grew its holdings in shares of Flushing Financial by 29.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank’s stock worth $64,000 after purchasing an additional 628 shares during the period. Amalgamated Bank acquired a new stake in Flushing Financial in the 1st quarter valued at about $79,000. SG Americas Securities LLC acquired a new stake in Flushing Financial in the 2nd quarter valued at about $208,000. Legal & General Group Plc raised its position in Flushing Financial by 12.0% in the 2nd quarter. Legal & General Group Plc now owns 12,605 shares of the bank’s stock valued at $268,000 after purchasing an additional 1,355 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Flushing Financial during the 1st quarter worth about $277,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

About Flushing Financial

(Get Rating)

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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