Sandler O’Neill Upgrades Flushing Financial (FFIC) to “Buy”

Flushing Financial (NASDAQ:FFIC) was upgraded by equities research analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other equities research analysts also recently weighed in on the stock. Piper Jaffray Companies reiterated a “hold” rating and set a $28.00 price target on shares of Flushing Financial in a research note on Friday, November 10th. ValuEngine upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Finally, BidaskClub downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.25.

Shares of Flushing Financial (NASDAQ:FFIC) opened at $26.89 on Thursday. Flushing Financial has a 52 week low of $24.27 and a 52 week high of $31.69. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $769.88, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.09). Flushing Financial had a return on equity of 8.59% and a net margin of 16.79%. The business had revenue of $46.12 million for the quarter. equities analysts forecast that Flushing Financial will post 1.84 EPS for the current fiscal year.

In other news, Director Donna M. Obrien sold 6,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $27.73, for a total value of $166,380.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sam Sang Ki Han sold 5,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $28.93, for a total transaction of $144,650.00. Following the completion of the sale, the director now owns 41,066 shares in the company, valued at approximately $1,188,039.38. The disclosure for this sale can be found here. 4.86% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in shares of Flushing Financial by 0.8% in the 2nd quarter. Wells Fargo & Company MN now owns 30,381 shares of the bank’s stock valued at $857,000 after purchasing an additional 230 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Flushing Financial by 0.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 100,927 shares of the bank’s stock valued at $2,845,000 after purchasing an additional 785 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Flushing Financial by 5.7% in the 2nd quarter. Voya Investment Management LLC now owns 18,661 shares of the bank’s stock valued at $526,000 after purchasing an additional 1,001 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Flushing Financial by 2.5% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 45,707 shares of the bank’s stock valued at $1,287,000 after purchasing an additional 1,100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Flushing Financial by 0.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 685,178 shares of the bank’s stock valued at $18,843,000 after purchasing an additional 2,089 shares in the last quarter. Institutional investors own 77.21% of the company’s stock.

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Flushing Financial 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).

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