StockNews.com Upgrades Flushing Financial (NASDAQ:FFIC) to “Hold”

Flushing Financial (NASDAQ:FFIC) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Flushing Financial Trading Up 0.5 %

Flushing Financial stock opened at $17.11 on Wednesday. The stock has a 50-day simple moving average of $16.31 and a 200 day simple moving average of $14.55. The stock has a market capitalization of $497.37 million, a P/E ratio of 19.67 and a beta of 0.78. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. Flushing Financial has a 52 week low of $10.74 and a 52 week high of $18.59.

Insider Transactions at Flushing Financial

In related news, CAO Astrid Burrowes sold 8,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $16.19, for a total value of $129,520.00. Following the transaction, the chief accounting officer now directly owns 34,853 shares in the company, valued at approximately $564,270.07. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $15.47, for a total transaction of $154,700.00. Following the completion of the sale, the director now owns 67,251 shares of the company’s stock, valued at $1,040,372.97. This trade represents a 12.94 % decrease in their position. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in Flushing Financial by 87.0% during the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock worth $73,000 after buying an additional 2,575 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Flushing Financial during the 2nd quarter worth $149,000. Assenagon Asset Management S.A. increased its position in shares of Flushing Financial by 41.0% in the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after purchasing an additional 46,871 shares during the period. Bank of New York Mellon Corp raised its stake in Flushing Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock valued at $2,736,000 after purchasing an additional 3,984 shares in the last quarter. Finally, Princeton Capital Management LLC bought a new stake in Flushing Financial during the second quarter worth about $145,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Company Profile

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.