Flushing Financial (NASDAQ:FFIC) Stock Rating Upgraded by StockNews.com

Flushing Financial (NASDAQ:FFIC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Flushing Financial Stock Up 2.0 %

Shares of NASDAQ FFIC opened at $12.21 on Wednesday. Flushing Financial has a 1 year low of $10.65 and a 1 year high of $18.59. The company has a market capitalization of $412.42 million, a P/E ratio of -12.09 and a beta of 0.67. The company has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $14.51. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $58.10 million for the quarter, compared to analyst estimates of $55.38 million. Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. On average, equities research analysts predict that Flushing Financial will post 1.2 earnings per share for the current year.

Insider Buying and Selling at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 6,800 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total value of $87,856.00. Following the sale, the executive vice president now owns 32,336 shares in the company, valued at approximately $417,781.12. The trade was a 17.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flushing Financial

Several institutional investors have recently bought and sold shares of FFIC. CWM LLC lifted its position in shares of Flushing Financial by 79.2% during the first quarter. CWM LLC now owns 24,000 shares of the bank’s stock worth $305,000 after purchasing an additional 10,610 shares in the last quarter. Cerity Partners LLC purchased a new position in Flushing Financial in the 1st quarter valued at approximately $191,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Flushing Financial by 28.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,853 shares of the bank’s stock worth $227,000 after acquiring an additional 3,934 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Flushing Financial by 47.7% during the first quarter. SG Americas Securities LLC now owns 39,595 shares of the bank’s stock worth $503,000 after acquiring an additional 12,795 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Flushing Financial by 3,722.1% in the first quarter. GAMMA Investing LLC now owns 24,041 shares of the bank’s stock valued at $305,000 after acquiring an additional 23,412 shares in the last quarter. 67.10% of the stock is 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.