Flushing Financial (NASDAQ:FFIC) PT Lowered to $14.00

Flushing Financial (NASDAQ:FFIC - Get Free Report) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $15.50 to $14.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 17.45% from the company's previous close.

Several other brokerages also recently issued reports on FFIC. Raymond James increased their price objective on shares of Flushing Financial from $17.00 to $19.00 and gave the company an "outperform" rating in a research report on Friday, January 5th. DA Davidson lowered their price target on shares of Flushing Financial from $17.00 to $13.50 and set a "neutral" rating for the company in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Flushing Financial has a consensus rating of "Hold" and an average target price of $15.50.

Flushing Financial Stock Down 2.3 %

Shares of NASDAQ:FFIC traded down $0.28 during midday trading on Friday, hitting $11.92. 118,707 shares of the company's stock traded hands, compared to its average volume of 202,914. The firm's fifty day moving average price is $13.20 and its two-hundred day moving average price is $13.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 1.04. Flushing Financial has a twelve month low of $9.28 and a twelve month high of $18.00. The company has a market cap of $346.51 million, a PE ratio of 11.50 and a beta of 0.73.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. Flushing Financial had a return on equity of 4.11% and a net margin of 7.37%. The company had revenue of $53.49 million for the quarter, compared to analysts' expectations of $48.84 million. On average, equities research analysts anticipate that Flushing Financial will post 0.77 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Flushing Financial

A number of institutional investors have recently modified their holdings of FFIC. Great West Life Assurance Co. Can boosted its stake in Flushing Financial by 29.7% in the first quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank's stock valued at $64,000 after acquiring an additional 628 shares during the period. UBS Group AG boosted its position in Flushing Financial by 5.9% during the 3rd quarter. UBS Group AG now owns 18,480 shares of the bank's stock valued at $358,000 after purchasing an additional 1,034 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Flushing Financial by 0.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 208,457 shares of the bank's stock worth $2,562,000 after buying an additional 1,070 shares during the last quarter. Royal Bank of Canada increased its position in Flushing Financial by 11.7% in the third quarter. Royal Bank of Canada now owns 11,615 shares of the bank's stock worth $226,000 after buying an additional 1,212 shares during the period. Finally, Legal & General Group Plc lifted its stake in Flushing Financial by 12.0% in the second quarter. Legal & General Group Plc now owns 12,605 shares of the bank's stock valued at $268,000 after buying an additional 1,355 shares during the last quarter. Institutional investors 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, demand accounts, NOW accounts, and certificates of deposit.