Flushing Financial (NASDAQ:FFIC) Price Target Cut to $13.00 by Analysts at Keefe, Bruyette & Woods

Flushing Financial (NASDAQ:FFIC) had its price target cut by equities researchers at Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 14.34% from the stock’s previous close.

Several other analysts also recently weighed in on FFIC. Raymond James lifted their target price on Flushing Financial from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. StockNews.com downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, DA Davidson cut their target price on Flushing Financial from $17.00 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.17.

Flushing Financial Trading Down 0.1 %

Shares of NASDAQ FFIC opened at $11.37 on Friday. The company has a market cap of $330.53 million, a price-to-earnings ratio of 11.37 and a beta of 0.73. Flushing Financial has a 12-month low of $9.28 and a 12-month high of $18.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $12.21 and its 200 day simple moving average is $13.80.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $112.58 million during the quarter, compared to the consensus estimate of $47.12 million. Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. During the same period last year, the business posted $0.10 EPS. Equities research analysts expect that Flushing Financial will post 0.71 EPS for the current year.

Insider Activity

In other news, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total transaction of $250,990.00. Following the transaction, the executive vice president now directly owns 32,391 shares in the company, valued at approximately $427,885.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Francis W. Korzekwinski sold 7,649 shares of Flushing Financial stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total value of $96,453.89. Following the transaction, the executive vice president now directly owns 73,493 shares in the company, valued at approximately $926,746.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the transaction, the executive vice president now owns 32,391 shares in the company, valued at $427,885.11. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Flushing Financial

Hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. acquired a new position in shares of Flushing Financial in the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Flushing Financial in the 1st quarter worth $32,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Flushing Financial in the 3rd quarter worth $149,000. EMC Capital Management grew its holdings in shares of Flushing Financial by 116.7% in the 3rd quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock worth $151,000 after acquiring an additional 6,189 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Flushing Financial by 72.4% in the 3rd quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock worth $209,000 after acquiring an additional 6,697 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.