Weiss Ratings Reiterates Sell (D) Rating for Flushing Financial (NASDAQ:FFIC)

Key Points

• Weiss Ratings has reiterated a "sell (D)" rating for Flushing Financial (NASDAQ: FFIC), amidst a consensus rating of "Reduce" from various analysts.
• Flushing Financial's shares traded at $13.73, with a twelve-month low of $10.65 and a high of $18.59, indicating significant stock volatility over the year.
• Institutional investors have increased their holdings in Flushing Financial, owning 67.10% of the company's stock, which suggests confidence in the company's long-term potential despite current ratings.

Flushing Financial (NASDAQ:FFIC - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities researchers at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Zacks Research upgraded Flushing Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Flushing Financial has a consensus rating of "Reduce".

Flushing Financial Stock Performance

Shares of NASDAQ FFIC traded up $0.22 during midday trading on Tuesday, hitting $13.73. 48,199 shares of the company's stock were exchanged, compared to its average volume of 270,988. 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 stock's 50 day moving average price is $13.48 and its 200-day moving average price is $12.59. The firm has a market cap of $463.80 million, a P/E ratio of -11.55 and a beta of 0.79. Flushing Financial has a twelve month low of $10.65 and a twelve month high of $18.59.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 15th. The bank reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $54.81 million during the quarter. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%. Equities research analysts anticipate that Flushing Financial will post 1.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Flushing Financial by 9.3% in the first quarter. Vanguard Group Inc. now owns 1,895,886 shares of the bank's stock valued at $24,078,000 after buying an additional 161,133 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Flushing Financial by 26.3% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 839,438 shares of the bank's stock valued at $10,661,000 after purchasing an additional 174,970 shares during the period. Geode Capital Management LLC raised its stake in Flushing Financial by 2.4% during the 2nd 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 period. Patriot Financial Partners GP LP raised its stake in Flushing Financial by 17.4% during the 2nd quarter. Patriot Financial Partners GP LP now owns 675,000 shares of the bank's stock valued at $8,019,000 after purchasing an additional 100,000 shares during the period. Finally, Invesco Ltd. raised its stake in Flushing Financial by 10.3% during the 2nd quarter. Invesco Ltd. now owns 597,467 shares of the bank's stock valued at $7,098,000 after purchasing an additional 55,563 shares during the period. Institutional investors own 67.10% of the company's stock.

About Flushing Financial

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.

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