Flushing Financial (NASDAQ:FFIC) Cut to Sell at StockNews.com

Flushing Financial (NASDAQ:FFIC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Flushing Financial Stock Performance

Shares of NASDAQ:FFIC opened at $13.10 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The company has a market cap of $442.48 million, a price-to-earnings ratio of -12.97 and a beta of 0.79. Flushing Financial has a 12 month low of $10.74 and a 12 month high of $18.59. The company has a 50-day moving average price of $14.06 and a 200-day moving average price of $14.98.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. As a group, equities analysts anticipate that Flushing Financial will post 1.2 EPS for the current year.

Insiders Place Their Bets

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the transaction, the executive vice president now owns 32,336 shares in the company, valued at approximately $417,781.12. This represents a 17.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in Flushing Financial in the fourth quarter worth $28,000. US Bancorp DE grew its position in shares of Flushing Financial by 496.0% in the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock worth $53,000 after buying an additional 3,100 shares during the period. Quarry LP purchased a new stake in shares of Flushing Financial in the 4th quarter worth about $73,000. New York State Common Retirement Fund increased its stake in shares of Flushing Financial by 27.8% in the 4th quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock worth $92,000 after acquiring an additional 1,400 shares in the last quarter. Finally, FMR LLC lifted its position in Flushing Financial by 64.1% during the 3rd quarter. FMR LLC now owns 7,259 shares of the bank’s stock valued at $106,000 after acquiring an additional 2,836 shares during the period. Hedge funds and other 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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.