Stock Buzzer: Could Flushing Financial Corporation See a Reversal After Breaking Its 52-Week High?

Stock Buzzer: Could Flushing Financial Corporation See a Reversal After Breaking Its 52 Week High?

The stock of Flushing Financial Corporation (NASDAQ:FFIC) hit a new 52-week high and has $30.63 target or 27.00% above today’s $24.12 share price. The 9 months bullish chart indicates low risk for the $699.45M company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $30.63 price target is reached, the company will be worth $188.85 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.37% or $1.23 during the last trading session, hitting $24.12. About 145,351 shares traded hands or 194.19% up from the average. Flushing Financial Corporation (NASDAQ:FFIC) has risen 12.21% since April 7, 2016 and is uptrending. It has outperformed by 7.42% the S&P500.

Flushing Financial Corporation (NASDAQ:FFIC) Ratings Coverage

Out of 4 analysts covering Flushing Financial (NASDAQ:FFIC), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. Flushing Financial has been the topic of 5 analyst reports since August 25, 2015 according to StockzIntelligence Inc. Zacks upgraded the shares of FFIC in a report on Tuesday, August 25 to “Sell” rating. The firm has “Sell” rating by Zacks given on Wednesday, September 2. Sandler O’Neill downgraded Flushing Financial Corporation (NASDAQ:FFIC) on Wednesday, August 31 to “Hold” rating. Piper Jaffray downgraded the shares of FFIC in a report on Thursday, October 29 to “Neutral” rating. The firm has “Buy” rating by Gabelli given on Wednesday, June 29.

According to Zacks Investment Research, “FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Under the regulations of the Office of Thrift Supervision, the subsidiary is a qualified thrift lender if its ratio of qualified thrift investments to portfolio assets is 65% or more, on a monthly average basis in nine of every 12 months.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 0.37, from 1.5 in 2016Q1. The ratio dropped, as 9 funds sold all Flushing Financial Corporation shares owned while 31 reduced positions. 6 funds bought stakes while 39 increased positions. They now own 21.88 million shares or 3.52% less from 22.67 million shares in 2016Q1.
Moreover, Kennedy Capital Management has 0.04% invested in Flushing Financial Corporation (NASDAQ:FFIC) for 98,175 shares. Pnc Fincl Svcs Gp accumulated 205 shares or 0% of the stock. Gamco Investors Inc Et Al holds 0.14% or 1.03M shares in its portfolio. Martingale Asset L P owns 24,610 shares or 0.01% of their US portfolio. Millennium Mngmt Limited Co reported 85,389 shares or 0% of all its holdings. Rhumbline Advisers accumulated 0% or 47,957 shares. Aqr Mngmt Limited Co accumulated 0% or 81,829 shares. Moreover, Teachers Advsrs has 0% invested in Flushing Financial Corporation (NASDAQ:FFIC) for 49,015 shares. Metropolitan Life Ins Ny accumulated 0% or 22,493 shares. Natl Bank Of Montreal Can accumulated 0% or 4,657 shares. Great West Life Assurance Can holds 0% or 4,743 shares in its portfolio. Wedge Capital Management L Limited Partnership Nc last reported 0.01% of its portfolio in the stock. Teacher Retirement Sys Of Texas holds 3,830 shares or 0% of its portfolio. The Texas-based Services Automobile Association has invested 0.02% in Flushing Financial Corporation (NASDAQ:FFIC). Morgan Stanley owns 40,089 shares or 0% of their US portfolio.

Insider Transactions: Since May 19, 2016, the stock had 2 buys, and 17 selling transactions for $1.31 million net activity. $4,314 worth of Flushing Financial Corporation (NASDAQ:FFIC) was sold by Allen Brewer M. on Monday, October 31. 4,660 shares with value of $105,363 were sold by Grasso Maria A on Tuesday, August 9. 10,000 shares with value of $223,500 were sold by ROE JOHN E SR on Monday, August 15. dePasquale Caterina sold 1,025 shares worth $20,726. Jin Jeoung sold 200 shares worth $4,550. Shares for $91,848 were sold by KORZEKWINSKI FRANCIS W. BENNETT JAMES DAVISON sold $175,977 worth of Flushing Financial Corporation (NASDAQ:FFIC) on Tuesday, August 23.

More recent Flushing Financial Corporation (NASDAQ:FFIC) news were published by: Globenewswire.com which released: “San Ki Han, Board Member of Flushing Financial Corporation, is Honored by …” on September 15, 2016. Also Reuters.com published the news titled: “BRIEF-Flushing Financial Corp reports third quarter GAAP” on October 25, 2016. Globenewswire.com‘s news article titled: “Flushing Financial Corporation’s David W. Fry, Chief Financial Officer, to …” with publication date: February 01, 2016 was also an interesting one.

FFIC Company Profile

Flushing Financial Corporation, incorporated on May 9, 1994, is the bank holding firm for Flushing Bank (the Bank). The Firm is a community-oriented financial institution offering a range of financial services. The Bank owns three subsidiaries: Flushing Preferred Funding Corporation, Flushing Service Corporation, and FSB Properties Inc. The Firm also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III, and Flushing Financial Capital Trust IV (the Trusts). The Bank operates approximately 20 full-service offices, located in the New York City Boroughs of Queens, Brooklyn, and Manhattan, and in Nassau County, New York. The Firm 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.

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