Flushing Financial (NASDAQ:FFIC) Stock Rating Lowered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Flushing Financial (NASDAQ:FFIC) from a market perform rating to an underperform rating in a research note published on Monday morning, Briefing.com Automated Import reports. Keefe, Bruyette & Woods currently has $19.00 price objective on the bank’s stock, down from their prior price objective of $21.50.

FFIC has been the subject of several other reports. TheStreet lowered Flushing Financial from a b- rating to a c+ rating in a research report on Thursday, August 15th. Sandler O’Neill raised Flushing Financial from a hold rating to a buy rating and raised their target price for the company from $22.50 to $23.00 in a research report on Tuesday, October 1st. Zacks Investment Research raised Flushing Financial from a hold rating to a strong-buy rating and set a $26.00 target price for the company in a research report on Thursday, October 31st. Finally, BidaskClub raised Flushing Financial from a sell rating to a hold rating in a research report on Saturday, September 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $22.67.

NASDAQ:FFIC traded down $0.21 during trading hours on Monday, hitting $21.38. 81,600 shares of the company traded hands, compared to its average volume of 61,136. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.52. The firm’s 50-day simple moving average is $21.01 and its 200-day simple moving average is $21.10. Flushing Financial has a one year low of $18.80 and a one year high of $23.75. The company has a market cap of $602.38 million, a PE ratio of 11.02, a PEG ratio of 4.77 and a beta of 0.84.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, October 29th. The bank reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. Flushing Financial had a return on equity of 9.10% and a net margin of 14.58%. The business had revenue of $39.99 million for the quarter. As a group, equities research analysts expect that Flushing Financial will post 1.6 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Flushing Financial in the 3rd quarter worth about $118,000. First Trust Advisors LP increased its holdings in Flushing Financial by 298.1% in the 3rd quarter. First Trust Advisors LP now owns 80,334 shares of the bank’s stock worth $1,623,000 after acquiring an additional 60,156 shares during the last quarter. Teton Advisors Inc. boosted its stake in Flushing Financial by 0.4% in the 3rd quarter. Teton Advisors Inc. now owns 668,072 shares of the bank’s stock worth $13,498,000 after purchasing an additional 2,500 shares during the period. Russell Investments Group Ltd. boosted its stake in Flushing Financial by 1,418.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,000 shares of the bank’s stock worth $141,000 after purchasing an additional 6,539 shares during the period. Finally, Rhumbline Advisers boosted its stake in Flushing Financial by 6.7% in the 3rd quarter. Rhumbline Advisers now owns 55,610 shares of the bank’s stock worth $1,124,000 after purchasing an additional 3,492 shares during the period. 76.68% of the stock is owned by institutional investors.

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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