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

Key Points

• Flushing Financial (NASDAQ:FFIC) was upgraded by Zacks Research from a "strong sell" to a "hold" rating.
• The company reported earnings of $0.32 per share, exceeding analysts' consensus estimates and achieving revenue of $58.92 million for the quarter.
• Institutional investors have significantly increased their stakes in Flushing Financial, with over 67.10% of the stock now held by hedge funds and other institutional investors.

Flushing Financial (NASDAQ:FFIC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Flushing Financial Stock Down 0.2%

NASDAQ:FFIC traded down $0.03 during mid-day trading on Monday, hitting $14.10. 269,838 shares of the company's stock were exchanged, compared to its average volume of 181,602. Flushing Financial has a one year low of $10.65 and a one year high of $18.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day moving average price of $12.82 and a 200 day moving average price of $12.52. The company has a market cap of $476.27 million, a PE ratio of -11.85 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. The business had revenue of $58.92 million for the quarter, compared to analyst estimates of $60.13 million. Equities analysts predict that Flushing Financial will post 1.2 EPS for the current year.

Institutional Trading of Flushing Financial

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in Flushing Financial by 75.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank's stock valued at $46,000 after buying an additional 1,650 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Flushing Financial by 37.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank's stock valued at $96,000 after buying an additional 2,194 shares during the period. Aigen Investment Management LP bought a new stake in Flushing Financial during the first quarter valued at approximately $127,000. Squarepoint Ops LLC bought a new stake in Flushing Financial during the fourth quarter valued at approximately $147,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in Flushing Financial during the fourth quarter valued at approximately $167,000. 67.10% of the stock is currently owned by institutional investors.

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.