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

Sandler O’Neill upgraded shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a buy rating in a report released on Thursday. The firm currently has $31.00 target price on the bank’s stock.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Flushing Financial from a hold rating to a sell rating in a report on Wednesday, January 31st. BidaskClub downgraded Flushing Financial from a hold rating to a sell rating in a report on Wednesday, January 31st. ValuEngine upgraded Flushing Financial from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies reiterated a hold rating and set a $28.00 price target on shares of Flushing Financial in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $30.25.

Flushing Financial (NASDAQ:FFIC) traded up $0.40 during trading hours on Thursday, reaching $27.29. The company had a trading volume of 215,700 shares, compared to its average volume of 78,182. Flushing Financial has a 12-month low of $24.27 and a 12-month high of $31.69. The firm has a market capitalization of $768.74, a P/E ratio of 19.22, a P/E/G ratio of 1.48 and a beta of 1.05. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.23.

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

In related news, Director Donna M. Obrien sold 6,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $27.73, for a total value of $166,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sam Sang Ki Han sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $28.93, for a total value of $144,650.00. Following the completion of the transaction, the director now directly owns 41,066 shares of the company’s stock, valued at $1,188,039.38. The disclosure for this sale can be found here. Company insiders own 4.86% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Martin & Co. Inc. TN lifted its position in Flushing Financial by 3.4% in the fourth quarter. Martin & Co. Inc. TN now owns 61,963 shares of the bank’s stock worth $1,704,000 after purchasing an additional 2,025 shares during the period. MetLife Investment Advisors LLC bought a new position in Flushing Financial in the fourth quarter worth $369,000. Macquarie Group Ltd. lifted its position in Flushing Financial by 5.0% in the fourth quarter. Macquarie Group Ltd. now owns 517,334 shares of the bank’s stock worth $14,227,000 after purchasing an additional 24,451 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its position in Flushing Financial by 9.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 48,407 shares of the bank’s stock worth $1,330,000 after purchasing an additional 4,000 shares during the period. Finally, Two Sigma Investments LP bought a new position in Flushing Financial in the fourth quarter worth $564,000. 77.21% of the stock is owned by hedge funds and other institutional investors.

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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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