Flushing Financial Corporation (FFIC) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Flushing Financial Corporation (NASDAQ:FFIC)‘s stock had its “hold” rating reiterated by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Sunday. They presently have a $30.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 2.31% from the company’s current price.

A number of other research analysts have also weighed in on FFIC. BidaskClub raised Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Piper Jaffray Companies reissued a “hold” rating and set a $30.00 target price on shares of Flushing Financial Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Flushing Financial Corporation currently has a consensus rating of “Hold” and a consensus price target of $30.33.

Shares of Flushing Financial Corporation (NASDAQ:FFIC) opened at 30.71 on Friday. Flushing Financial Corporation has a 1-year low of $20.95 and a 1-year high of $31.96. The stock has a market capitalization of $894.74 million, a price-to-earnings ratio of 17.88 and a beta of 1.11. The firm’s 50-day moving average is $28.17 and its 200-day moving average is $28.06.

Flushing Financial Corporation (NASDAQ:FFIC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The company had revenue of $45.57 million during the quarter, compared to analyst estimates of $46.79 million. Flushing Financial Corporation had a return on equity of 9.23% and a net margin of 19.96%. During the same period in the previous year, the company earned $0.39 EPS. On average, analysts predict that Flushing Financial Corporation will post $1.74 earnings per share for the current fiscal year.

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In other Flushing Financial Corporation news, Director Donna M. Obrien sold 3,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $27.33, for a total value of $81,990.00. Following the transaction, the director now directly owns 50,925 shares of the company’s stock, valued at approximately $1,391,780.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.86% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Flushing Financial Corporation in the 1st quarter valued at $133,000. BNP Paribas Arbitrage SA grew its holdings in Flushing Financial Corporation by 277.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock valued at $136,000 after buying an additional 3,553 shares in the last quarter. Oxford Asset Management acquired a new position in Flushing Financial Corporation in the 1st quarter valued at $212,000. Dynamic Technology Lab Private Ltd acquired a new position in Flushing Financial Corporation in the 2nd quarter valued at $221,000. Finally, Karp

A number of other research analysts have also weighed in on FFIC. BidaskClub raised Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Piper Jaffray Companies reissued a “hold” rating and set a $30.00 target price on shares of Flushing Financial Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Flushing Financial Corporation currently has a consensus rating of “Hold” and a consensus price target of $30.33.

Shares of Flushing Financial Corporation (NASDAQ:FFIC) opened at 30.71 on Friday. Flushing Financial Corporation has a 1-year low of $20.95 and a 1-year high of $31.96. The stock has a market capitalization of $894.74 million, a price-to-earnings ratio of 17.88 and a beta of 1.11. The firm’s 50-day moving average is $28.17 and its 200-day moving average is $28.06.

Flushing Financial Corporation (NASDAQ:FFIC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. The company had revenue of $45.57 million during the quarter, compared to analyst estimates of $46.79 million. Flushing Financial Corporation had a return on equity of 9.23% and a net margin of 19.96%. During the same period in the previous year, the company earned $0.39 EPS. On average, analysts predict that Flushing Financial Corporation will post $1.74 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Flushing Financial Corporation (FFIC) Stock Rating Reaffirmed by Keefe, Bruyette & Woods” was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/10/flushing-financial-corporation-ffic-stock-rating-reaffirmed-by-keefe-bruyette-woods.html.

In other Flushing Financial Corporation news, Director Donna M. Obrien sold 3,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $27.33, for a total value of $81,990.00. Following the transaction, the director now directly owns 50,925 shares of the company’s stock, valued at approximately $1,391,780.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.86% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Flushing Financial Corporation in the 1st quarter valued at $133,000. BNP Paribas Arbitrage SA grew its holdings in Flushing Financial Corporation by 277.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock valued at $136,000 after buying an additional 3,553 shares in the last quarter. Oxford Asset Management acquired a new position in Flushing Financial Corporation in the 1st quarter valued at $212,000. Dynamic Technology Lab Private Ltd acquired a new position in Flushing Financial Corporation in the 2nd quarter valued at $221,000. Finally, Karp Capital Management Corp acquired a new position in Flushing Financial Corporation in the 1st quarter valued at $251,000. 77.31% of the stock is currently owned by hedge funds and other institutional investors.

About Flushing Financial Corporation

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).

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