StockNews.com Downgrades Flushing Financial (NASDAQ:FFIC) to Sell

Flushing Financial (NASDAQ:FFIC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Flushing Financial Stock Up 0.5 %

FFIC stock opened at $13.10 on Tuesday. Flushing Financial has a 1-year low of $10.74 and a 1-year high of $18.59. The stock has a market cap of $442.48 million, a price-to-earnings ratio of -12.97 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $14.06 and its 200 day moving average is $14.98.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results 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%. Sell-side analysts predict that Flushing Financial will post 1.2 EPS for the current fiscal year.

Insider Activity at Flushing Financial

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

Institutional Investors Weigh In On Flushing Financial

A number of institutional investors have recently made changes to their positions in FFIC. Charles Schwab Investment Management Inc. lifted its stake in Flushing Financial by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank’s stock worth $3,401,000 after purchasing an additional 4,876 shares during the last quarter. FMR LLC lifted its stake in shares of 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 during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Flushing Financial by 18.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,661 shares of the bank’s stock valued at $287,000 after acquiring an additional 3,100 shares during the last quarter. Fourthstone LLC purchased a new stake in Flushing Financial during the 3rd quarter valued at about $510,000. Finally, Verition Fund Management LLC bought a new position in Flushing Financial during the 3rd quarter worth approximately $4,936,000. Hedge funds and other 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.