Flushing Financial Corporation (FFIC) is Downgraded by Sandler O’Neill to Hold

Flushing Financial Corporation (FFIC) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Aug 31, 2016.

Many Wall Street Analysts have commented on Flushing Financial Corporation. Gabelli & Co Initiated Flushing Financial Corporation on Jun 29, 2016 to “Buy”, Price Target of the shares are set at $27.

On the company’s financial health, Flushing Financial Corporation reported $0.33 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.34.Analysts expectations of $ 42.96.During the same quarter in the previous year, the company posted $0.31 EPS.

Flushing Financial Corporation opened for trading at $22.81 and hit $23.15 on the upside on Monday, eventually ending the session at $23.06, with a gain of 0.96% or 0.22 points. The heightened volatility saw the trading volume jump to 38,097 shares. Company has a market cap of $660 M.

Investors should note that on Aug 17, 2016, Flushing Financial Corporation announced a cash dividend of $0.1700. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 30, 2016.

In a different news, on Aug 25, 2016, James Davison Bennett (director) sold 7,850 shares at $22.42 per share price. According to the SEC, on Aug 23, 2016, Francis W Korzekwinski (Sr. Executive Vice President) sold 4,128 shares at $22.25 per share price. On Aug 17, 2016, Jeoung Jin (Executive Vice President) sold 272 shares at $22.22 per share price, according to the Form-4 filing with the securities and exchange commission.

Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. As of December 31 2014 the Bank owned three subsidiaries: Flushing Preferred Funding Corporation (FPFC) Flushing Service Corporation and FSB Properties Inc. (Properties). The Company also owns Flushing Financial Capital Trust II Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts). The Company provides a range of lending and deposit products. As of December 31 2014 the Bank operated out of 17 full-service offices located in the New York City Boroughs of Queens Brooklyn and Manhattan and in Nassau County New York. The Company also operates an Internet branch iGObanking.com. The Bank has a business banking unit which provides a range of commercial business deposit loan and cash management products.

Flushing Financial Corporation

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