Stock On Watch: Is Flushing Financial Corporation a Buy? The Stock Reaches All Time High Today

Stock On Watch: Is Flushing Financial Corporation a Buy? The Stock Reaches All Time High Today

The stock of Flushing Financial Corporation (NASDAQ:FFIC) reached all time high today, Nov, 14 and still has $33.75 target or 31.00% above today’s $25.76 share price. This indicates more upside for the $752.58M company. This technical setup was reported by Barchart.com. If the $33.75 PT is reached, the company will be worth $233.30 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 51,893 shares traded hands. Flushing Financial Corporation (NASDAQ:FFIC) has risen 24.04% since April 12, 2016 and is uptrending. It has outperformed by 19.06% the S&P500.

Flushing Financial Corporation (NASDAQ:FFIC) Ratings Coverage

Out of 4 analysts covering Flushing Financial (NASDAQ:FFIC), 0 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 0 are positive. Flushing Financial has been the topic of 6 analyst reports since August 25, 2015 according to StockzIntelligence Inc. On Wednesday, September 2 the stock rating was downgraded by Zacks to “Sell”. The firm earned “Sell” rating on Tuesday, August 25 by Zacks. The rating was initiated by Gabelli on Wednesday, June 29 with “Buy”. The stock of Flushing Financial Corporation (NASDAQ:FFIC) earned “Hold” rating by Sandler O’Neill on Wednesday, August 31. On Thursday, October 29 the stock rating was downgraded by Piper Jaffray to “Neutral”. The firm earned “Hold” rating on Friday, November 11 by Gabelli.

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 2016 Q2. Its down 0.37, from 1.5 in 2016Q1. The ratio turned negative, 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.
State Bank Of New York Mellon holds 177,229 shares or 0% of its portfolio. Tiaa Cref Investment Mgmt Limited Liability accumulated 0% or 107,482 shares. Parametric Assocs reported 132,661 shares or 0% of all its holdings. The New York-based Millennium Management Lc has invested 0% in Flushing Financial Corporation (NASDAQ:FFIC). California Public Employees Retirement has 0% invested in the company for 130,945 shares. State Bank Of Montreal Can accumulated 0% or 4,657 shares. Hennessy Advsr reported 430,000 shares or 0.26% of all its holdings. Barclays Public Limited Liability Co has 0% invested in the company for 432 shares. The New York-based Gamco Investors Inc Et Al has invested 0.14% in Flushing Financial Corporation (NASDAQ:FFIC). Rbf Cap Ltd has 10,983 shares for 0.04% of their US portfolio. Great West Life Assurance Can has invested 0% of its portfolio in Flushing Financial Corporation (NASDAQ:FFIC). Teton Advsrs Inc owns 597,583 shares or 1.07% of their US portfolio. Macquarie Group Incorporated owns 783,911 shares or 0.03% of their US portfolio. Dimensional Fund Advsrs L P has 0.02% invested in the company for 2.09M shares. Teachers, a New York-based fund reported 49,015 shares.

Insider Transactions: Since May 19, 2016, the stock had 2 insider buys, and 17 insider sales for $1.31 million net activity. The insider Allen Brewer M. sold $20,007. 4,128 shares were sold by KORZEKWINSKI FRANCIS W, worth $91,848 on Monday, August 22. On Wednesday, September 7 the insider BURAN JOHN R sold $184,720. ROE JOHN E SR had sold 10,000 shares worth $216,100. $10,620 worth of Flushing Financial Corporation (NASDAQ:FFIC) was bought by Cullen Susan on Friday, October 28. Jin Jeoung also sold $4,550 worth of Flushing Financial Corporation (NASDAQ:FFIC) shares. Liotta Gary P also sold $43,016 worth of Flushing Financial Corporation (NASDAQ:FFIC) on Tuesday, August 9.

More recent Flushing Financial Corporation (NASDAQ:FFIC) news were published by: Marketwatch.com which released: “Flushing Financial Corp.” on December 21, 2009. 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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