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

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

Flushing Financial Stock Performance

Flushing Financial stock traded down $0.04 on Monday, hitting $13.06. The company’s stock had a trading volume of 327,240 shares, compared to its average volume of 214,384. The firm has a market cap of $441.13 million, a P/E ratio of -12.93 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. The company has a fifty day moving average price of $14.25 and a 200-day moving average price of $15.03. Flushing Financial has a one year low of $10.74 and a one year high of $18.59.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. On average, equities analysts anticipate that Flushing Financial will post 1.2 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Flushing Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Flushing Financial in the 4th quarter valued at $28,000. US Bancorp DE lifted its holdings in shares of Flushing Financial by 496.0% in the fourth quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock valued at $53,000 after purchasing an additional 3,100 shares in the last quarter. Quarry LP bought a new stake in shares of Flushing Financial in the fourth quarter valued at about $73,000. New York State Common Retirement Fund lifted its holdings in shares of Flushing Financial by 27.8% in the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock valued at $92,000 after purchasing an additional 1,400 shares in the last quarter. Finally, FMR LLC lifted its stake in Flushing Financial by 64.1% in the 3rd quarter. FMR LLC now owns 7,259 shares of the bank’s stock valued at $106,000 after acquiring an additional 2,836 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

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.