Flushing Financial (NASDAQ:FFIC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
A number of other research analysts also recently weighed in on FFIC. Sandler O’Neill downgraded Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, ValuEngine upgraded Flushing Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, three have assigned 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 $28.55 on Tuesday. Flushing Financial has a 1 year low of $24.27 and a 1 year high of $31.69. The stock has a market capitalization of $812.65, a P/E ratio of 20.11, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.19 and a quick ratio of 1.19.
Flushing Financial declared that its board has authorized a share buyback plan on Tuesday, February 27th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other Flushing Financial news, Director Donna M. Obrien sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $27.73, for a total value of $166,380.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.86% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of FFIC. State Street Corp boosted its stake in shares of Flushing Financial by 13.3% during the 2nd quarter. State Street Corp now owns 593,185 shares of the bank’s stock worth $16,725,000 after acquiring an additional 69,666 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Flushing Financial by 12.4% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,419 shares of the bank’s stock worth $904,000 after acquiring an additional 3,349 shares during the period. SG Americas Securities LLC bought a new position in shares of Flushing Financial during the 3rd quarter worth approximately $135,000. Macquarie Group Ltd. boosted its stake in shares of Flushing Financial by 9.3% during the 3rd quarter. Macquarie Group Ltd. now owns 492,883 shares of the bank’s stock worth $14,649,000 after acquiring an additional 41,965 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Flushing Financial by 36.5% during the 3rd quarter. Wells Fargo & Company MN now owns 41,469 shares of the bank’s stock worth $1,232,000 after acquiring an additional 11,088 shares during the period. Institutional investors own 80.59% 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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