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

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

Flushing Financial Stock Performance

FFIC opened at $20.57 on Wednesday. The business has a fifty day simple moving average of $21.52 and a 200 day simple moving average of $21.89. The company has a market capitalization of $616.73 million, a PE ratio of 7.40 and a beta of 0.71. Flushing Financial has a 1 year low of $19.88 and a 1 year high of $25.95. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.08 and a quick ratio of 1.08.

Flushing Financial (NASDAQ:FFICGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.14. Flushing Financial had a return on equity of 13.26% and a net margin of 28.96%. During the same period in the prior year, the firm posted $0.73 earnings per share. Research analysts expect that Flushing Financial will post 2.39 EPS for the current year.

Insider Buying and Selling at Flushing Financial

In other Flushing Financial news, EVP Francis W. Korzekwinski sold 5,000 shares of Flushing Financial stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $22.17, for a total value of $110,850.00. Following the completion of the transaction, the executive vice president now directly owns 71,952 shares of the company’s stock, valued at approximately $1,595,175.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Flushing Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can raised its holdings in shares of Flushing Financial by 29.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank’s stock worth $64,000 after buying an additional 628 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Flushing Financial during the 1st quarter worth $79,000. SG Americas Securities LLC acquired a new position in shares of Flushing Financial during the 2nd quarter worth $208,000. FNY Investment Advisers LLC acquired a new position in shares of Flushing Financial during the 1st quarter worth $277,000. Finally, Legal & General Group Plc raised its holdings in shares of Flushing Financial by 12.0% during the 2nd quarter. Legal & General Group Plc now owns 12,605 shares of the bank’s stock worth $268,000 after buying an additional 1,355 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

About Flushing Financial

(Get Rating)

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, demand accounts, NOW accounts, and certificates of deposit.

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