Flushing Financial Corporation (NASDAQ:FFIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $31.00 price objective on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.48% from the company’s previous close.

According to Zacks, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months. “

A number of other analysts also recently issued reports on FFIC. BidaskClub downgraded shares of Flushing Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $30.00 price target on shares of Flushing Financial Corporation in a report on Thursday, August 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $30.00 price objective on shares of Flushing Financial Corporation in a research report on Thursday, August 10th. Finally, ValuEngine upgraded shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Flushing Financial Corporation has an average rating of “Hold” and an average price target of $30.33.

Flushing Financial Corporation (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $46.79 million. Flushing Financial Corporation had a net margin of 19.96% and a return on equity of 9.23%. During the same period in the previous year, the business earned $0.39 EPS.

WARNING: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/20/flushing-financial-corporation-ffic-stock-rating-upgraded-by-zacks-investment-research.html.

In related news, Director Donna M. Obrien sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.33, for a total transaction of $81,990.00. Following the completion of the sale, the director now owns 50,925 shares in the company, valued at $1,391,780.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.86% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in shares of Flushing Financial Corporation by 277.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock worth $136,000 after purchasing an additional 3,553 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Flushing Financial Corporation in the first quarter valued at approximately $133,000. Bank of Montreal Can boosted its position in shares of Flushing Financial Corporation by 60.0% in the first quarter. Bank of Montreal Can now owns 7,450 shares of the bank’s stock valued at $200,000 after acquiring an additional 2,793 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Flushing Financial Corporation in the second quarter valued at approximately $221,000. Finally, Oxford Asset Management bought a new position in shares of Flushing Financial Corporation in the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Flushing Financial Corporation Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).

Receive News & Ratings for Flushing Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flushing Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.