Flushing Financial Corporation (NASDAQ:FFIC) Rating Reiterated by Keefe, Bruyette & Woods

Flushing Financial Corporation (NASDAQ:FFIC)‘s stock had its “hold” rating restated by research analysts at Keefe, Bruyette & Woods in a report released on Thursday. They currently have a $30.00 target price on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 6.38% from the stock’s current price.

Several other research analysts also recently weighed in on FFIC. Piper Jaffray Companies restated a “hold” rating and set a $30.00 price objective on shares of Flushing Financial Corporation in a report on Thursday, August 3rd. BidaskClub upgraded shares of Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Friday, July 28th. ValuEngine upgraded shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Sandler O’Neill upgraded shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $29.00.

Shares of Flushing Financial Corporation (NASDAQ FFIC) opened at 28.20 on Thursday. The firm has a market capitalization of $821.61 million, a price-to-earnings ratio of 16.41 and a beta of 1.11. The firm has a 50-day moving average of $28.32 and a 200 day moving average of $27.99. Flushing Financial Corporation has a 12-month low of $20.95 and a 12-month high of $31.96.

Flushing Financial Corporation (NASDAQ:FFIC) last released its earnings results on Tuesday, July 25th. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. Flushing Financial Corporation had a net margin of 19.96% and a return on equity of 9.31%. The company had revenue of $45.57 million for the quarter, compared to the consensus estimate of $46.79 million. During the same quarter in the previous year, the company earned $0.39 EPS. On average, equities research analysts expect that Flushing Financial Corporation will post $1.74 earnings per share for the current year.

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In other Flushing Financial Corporation news, COO Maria A. Grasso sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $26.77, for a total transaction of $107,080.00. Following the transaction, the chief operating officer now owns 74,223 shares in the company, valued at $1,986,949.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.86% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Flushing Financial Corporation during the fourth quarter valued at about $10,501,000. Teachers Advisors LLC raised its stake in Flushing Financial Corporation by 2.1% in the fourth quarter. Teachers Advisors LLC now owns 50,049 shares of the bank’s stock valued at $1,471,000 after buying an additional 1,034 shares during the last quarter. Bank of Montreal Can raised its stake in Flushing Financial Corporation by 60.0% in the first quarter. Bank of Montreal Can now owns 7,450 shares of the bank’s stock valued at $200,000 after buying an additional 2,793 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Flushing Financial Corporation by 1.6% in the first quarter. Hennessy Advisors Inc. now owns 310,000 shares of the bank’s stock valued at $8,330,000 after buying an additional 5,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in Flushing Financial Corporation by 7.8% in the first quarter. Wells Fargo & Company MN now owns 30,151 shares of the bank’s stock valued at $810,000 after buying an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.

Flushing Financial Corporation 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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