Flushing Financial (NASDAQ:FFIC) PT Raised to $17.00

Flushing Financial (NASDAQ:FFIC) had its price objective raised by equities research analysts at Raymond James from $16.00 to $17.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Raymond James’ price objective indicates a potential upside of 15.18% from the stock’s previous close.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on Flushing Financial from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Finally, Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $15.00 to $16.50 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

Flushing Financial Stock Performance

FFIC traded down $0.23 during trading hours on Wednesday, reaching $14.76. The company’s stock had a trading volume of 67,623 shares, compared to its average volume of 186,171. Flushing Financial has a 52 week low of $10.74 and a 52 week high of $18.00. The company’s 50-day moving average is $13.34 and its 200-day moving average is $13.14. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $429.07 million, a PE ratio of 14.75 and a beta of 0.77.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $117.45 million for the quarter, compared to analysts’ expectations of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same quarter last year, the business earned $0.26 EPS. On average, equities analysts forecast that Flushing Financial will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Flushing Financial by 2.0% during the 2nd 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 during the period. Assenagon Asset Management S.A. raised its stake in shares of Flushing Financial by 41.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock valued at $2,121,000 after purchasing an additional 46,871 shares during the period. SG Americas Securities LLC bought a new stake in shares of Flushing Financial during the 2nd quarter valued at $149,000. CWM LLC raised its stake in shares of Flushing Financial by 87.0% during the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Flushing Financial by 14.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 59,419 shares of the bank’s stock valued at $750,000 after purchasing an additional 7,672 shares during the period. Hedge funds and other 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.