StockNews.com Downgrades Flushing Financial (NASDAQ:FFIC) to Sell

Flushing Financial (NASDAQ:FFIC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $13.40 on Tuesday. The business has a fifty day moving average price of $14.13 and a two-hundred day moving average price of $14.99. The stock has a market capitalization of $452.61 million, a PE ratio of -13.27 and a beta of 0.79. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. Flushing Financial has a fifty-two week low of $10.74 and a fifty-two week high of $18.59.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. As a group, equities analysts predict that Flushing Financial will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total transaction of $87,856.00. Following the completion of the transaction, the executive vice president now owns 32,336 shares of the company’s stock, valued at approximately $417,781.12. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.31% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Flushing Financial by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,813 shares of the bank’s stock worth $226,000 after purchasing an additional 684 shares during the last quarter. New York State Common Retirement Fund raised its stake in Flushing Financial by 27.8% during the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock worth $92,000 after buying an additional 1,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Flushing Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 234,974 shares of the bank’s stock worth $3,355,000 after buying an additional 1,738 shares during the last quarter. R Squared Ltd acquired a new position in Flushing Financial in the fourth quarter valued at $28,000. Finally, Y Intercept Hong Kong Ltd boosted its position in Flushing Financial by 15.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank’s stock valued at $239,000 after acquiring an additional 2,219 shares during the last quarter. 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.