Flushing Financial (NASDAQ:FFIC) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

FFIC has been the topic of a number of other research reports. Zacks Investment Research raised Flushing Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine cut Flushing Financial from a “hold” rating to a “sell” rating in a research note on Saturday, January 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Flushing Financial presently has a consensus rating of “Hold” and an average price target of $29.38.

NASDAQ:FFIC opened at $22.07 on Friday. The stock has a market cap of $618.27 million, a P/E ratio of 14.06, a PEG ratio of 1.09 and a beta of 0.88. Flushing Financial has a 52-week low of $20.27 and a 52-week high of $29.27. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.21.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.06. The firm had revenue of $46.48 million for the quarter, compared to analysts’ expectations of $44.70 million. Flushing Financial had a return on equity of 9.27% and a net margin of 18.44%. Sell-side analysts anticipate that Flushing Financial will post 1.83 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Flushing Financial in the 2nd quarter worth about $176,000. Brown Advisory Inc. acquired a new stake in Flushing Financial during the 3rd quarter worth about $293,000. MetLife Investment Advisors LLC boosted its position in Flushing Financial by 55.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,803 shares of the bank’s stock worth $508,000 after acquiring an additional 7,381 shares during the period. Blair William & Co. IL acquired a new stake in Flushing Financial during the 3rd quarter worth about $514,000. Finally, GSA Capital Partners LLP boosted its position in Flushing Financial by 78.4% during the 3rd quarter. GSA Capital Partners LLP now owns 49,414 shares of the bank’s stock worth $1,206,000 after acquiring an additional 21,713 shares during the period. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

About Flushing Financial

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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.

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