Flushing Financial (NASDAQ:FFIC) Upgraded at Zacks Research

Flushing Financial (NASDAQ:FFIC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $13.67 on Monday. The firm has a market cap of $461.75 million, a price-to-earnings ratio of -11.49 and a beta of 0.83. The company’s 50 day moving average is $12.74 and its 200 day moving average is $12.52. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. Flushing Financial has a 52-week low of $10.65 and a 52-week high of $18.59.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $58.92 million for the quarter, compared to analyst estimates of $60.13 million. On average, sell-side analysts anticipate that Flushing Financial will post 1.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently bought and sold shares of FFIC. Northern Trust Corp grew its holdings in Flushing Financial by 3.4% in the fourth quarter. Northern Trust Corp now owns 256,126 shares of the bank’s stock worth $3,657,000 after purchasing an additional 8,470 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Flushing Financial by 34.9% in the fourth quarter. Ameriprise Financial Inc. now owns 137,470 shares of the bank’s stock worth $1,963,000 after purchasing an additional 35,572 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Flushing Financial by 87.9% in the fourth quarter. BNP Paribas Financial Markets now owns 36,944 shares of the bank’s stock worth $528,000 after purchasing an additional 17,283 shares during the last quarter. Bank of America Corp DE grew its holdings in Flushing Financial by 12.2% in the fourth quarter. Bank of America Corp DE now owns 117,048 shares of the bank’s stock worth $1,671,000 after purchasing an additional 12,732 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Flushing Financial by 329.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 90,988 shares of the bank’s stock valued at $1,299,000 after buying an additional 69,821 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

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.