Flushing Financial (NASDAQ:FFIC) Rating Lowered to Hold at Zacks Research

Flushing Financial (NASDAQ:FFIC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also weighed in on FFIC. Wall Street Zen lowered Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Raymond James Financial downgraded Flushing Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a research note on Monday. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Flushing Financial Stock Down 8.9%

FFIC stock opened at $15.38 on Monday. The company has a 50 day moving average of $15.69 and a two-hundred day moving average of $13.91. The company has a market cap of $519.54 million, a price-to-earnings ratio of -12.92 and a beta of 0.84. Flushing Financial has a 12-month low of $10.65 and a 12-month high of $17.79. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, February 15th. The bank reported $0.58 earnings per share for the quarter. Flushing Financial had a negative net margin of 6.93% and a positive return on equity of 4.98%. The business had revenue of $54.81 million for the quarter. On average, equities analysts anticipate that Flushing Financial will post 1.2 earnings per share for the current fiscal year.

Institutional Trading of Flushing Financial

Several large investors have recently modified their holdings of FFIC. Wellington Management Group LLP grew its stake in Flushing Financial by 586.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,786,993 shares of the bank’s stock valued at $24,678,000 after buying an additional 1,526,793 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Flushing Financial by 2.4% in the second quarter. Geode Capital Management LLC now owns 813,159 shares of the bank’s stock valued at $9,662,000 after purchasing an additional 18,829 shares during the last quarter. Patriot Financial Partners GP LP increased its stake in shares of Flushing Financial by 17.4% in the second quarter. Patriot Financial Partners GP LP now owns 675,000 shares of the bank’s stock worth $8,019,000 after purchasing an additional 100,000 shares during the period. Patriot Financial Partners GP II L.P. acquired a new position in shares of Flushing Financial during the 3rd quarter worth about $9,322,000. Finally, Invesco Ltd. lifted its position in shares of Flushing Financial by 10.3% during the 2nd quarter. Invesco Ltd. now owns 597,467 shares of the bank’s stock worth $7,098,000 after purchasing an additional 55,563 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.