Flushing Financial (NASDAQ:FFIC) Downgraded to Sell Rating by StockNews.com

Flushing Financial (NASDAQ:FFIC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Flushing Financial Price Performance

NASDAQ FFIC traded down $0.33 during trading on Tuesday, hitting $17.54. 81,907 shares of the stock traded hands, compared to its average volume of 178,195. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. Flushing Financial has a 12-month low of $10.74 and a 12-month high of $18.59. The firm has a 50-day simple moving average of $15.93 and a 200-day simple moving average of $14.38. The company has a market capitalization of $509.89 million, a P/E ratio of 20.16 and a beta of 0.78.

Insiders Place Their Bets

In related news, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total transaction of $129,520.00. Following the sale, the chief accounting officer now owns 34,853 shares in the company, valued at approximately $564,270.07. This represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction on Friday, November 1st. The stock was sold at an average price of $15.47, for a total transaction of $154,700.00. Following the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at $1,040,372.97. The trade was a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.31% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FFIC. Nisa Investment Advisors LLC boosted its holdings in Flushing Financial by 4,000.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flushing Financial during the second quarter valued at $61,000. CWM LLC grew its holdings in shares of Flushing Financial by 87.0% in the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock worth $73,000 after purchasing an additional 2,575 shares during the last quarter. FMR LLC increased its stake in Flushing Financial by 64.1% in the 3rd quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after buying an additional 2,836 shares during the period. Finally, Perritt Capital Management Inc bought a new stake in Flushing Financial during the 2nd quarter valued at about $132,000. 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.