Flushing Financial (NASDAQ:FFIC) Upgraded to “Hold” at StockNews.com

Flushing Financial (NASDAQ:FFIC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Flushing Financial Price Performance

Flushing Financial stock opened at $13.18 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $445.18 million, a P/E ratio of -13.05 and a beta of 0.79. The business’s fifty day moving average is $14.23 and its two-hundred day moving average is $15.02. Flushing Financial has a 52 week low of $10.74 and a 52 week high of $18.59.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. Equities research analysts forecast that Flushing Financial will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the transaction, the executive vice president now owns 32,336 shares of the company’s stock, valued at $417,781.12. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flushing Financial

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Flushing Financial during the fourth quarter valued at $276,000. PharVision Advisers LLC acquired a new position in shares of Flushing Financial during the fourth quarter valued at $275,000. Squarepoint Ops LLC bought a new stake in Flushing Financial in the fourth quarter valued at about $147,000. Two Sigma Advisers LP increased its holdings in Flushing Financial by 18.8% in the fourth quarter. Two Sigma Advisers LP now owns 196,600 shares of the bank’s stock valued at $2,807,000 after purchasing an additional 31,100 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Flushing Financial by 76.8% in the fourth quarter. Two Sigma Investments LP now owns 298,948 shares of the bank’s stock valued at $4,269,000 after purchasing an additional 129,830 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.