Keefe, Bruyette & Woods Lowers Flushing Financial (NASDAQ:FFIC) Price Target to $13.00

Flushing Financial (NASDAQ:FFIC) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 15.25% from the company’s previous close.

A number of other equities analysts have also commented on FFIC. Raymond James raised their target price on shares of Flushing Financial from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, DA Davidson cut their target price on shares of Flushing Financial from $17.00 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.17.

Flushing Financial Trading Down 0.9 %

Shares of Flushing Financial stock traded down $0.10 during trading on Friday, reaching $11.28. 17,239 shares of the stock were exchanged, compared to its average volume of 191,968. Flushing Financial has a 1 year low of $9.28 and a 1 year high of $18.00. The firm has a market cap of $327.91 million, a price-to-earnings ratio of 11.28 and a beta of 0.73. The stock’s fifty day moving average is $12.29 and its 200 day moving average is $13.82. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.26.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $112.58 million during the quarter, compared to analysts’ expectations of $47.12 million. Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. During the same quarter in the prior year, the business posted $0.10 EPS. As a group, equities research analysts expect that Flushing Financial will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the transaction, the executive vice president now directly owns 73,493 shares in the company, valued at $926,746.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Flushing Financial news, EVP Francis W. Korzekwinski sold 7,649 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total transaction of $96,453.89. Following the transaction, the executive vice president now owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas Buonaiuto sold 19,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the transaction, the executive vice president now owns 32,391 shares of the company’s stock, valued at approximately $427,885.11. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Flushing Financial

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Flushing Financial in the 1st quarter valued at $32,000. Emerald Mutual Fund Advisers Trust bought a new stake in Flushing Financial during the 3rd quarter worth about $149,000. EMC Capital Management grew its position in shares of Flushing Financial by 116.7% during the 3rd quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock worth $151,000 after buying an additional 6,189 shares during the period. SG Americas Securities LLC grew its position in shares of Flushing Financial by 72.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock worth $209,000 after buying an additional 6,697 shares during the period. Finally, Mendon Capital Advisors Corp acquired a new position in shares of Flushing Financial during the 4th quarter worth about $287,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Flushing Financial

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.