Price Action To Observe: Is Buying Flushing Financial Corporation Here a Winning Strategy?

Price Action To Observe: Is Buying Flushing Financial Corporation Here a Winning Strategy?

The stock of Flushing Financial Corporation (NASDAQ:FFIC) hit a new 52-week high and has $33.99 target or 27.00% above today’s $26.76 share price. The 7 months bullish chart indicates low risk for the $789.36M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $33.99 price target is reached, the company will be worth $213.13 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. About 52,032 shares traded hands. Flushing Financial Corporation (NASDAQ:FFIC) has risen 26.43% since April 15, 2016 and is uptrending. It has outperformed by 21.81% 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. Zacks downgraded Flushing Financial Corporation (NASDAQ:FFIC) on Wednesday, September 2 to “Sell” rating. The stock of Flushing Financial Corporation (NASDAQ:FFIC) earned “Sell” rating by Zacks on Tuesday, August 25. Sandler O’Neill downgraded the shares of FFIC in a report on Wednesday, August 31 to “Hold” rating. As per Friday, November 11, the company rating was downgraded by Gabelli. The firm earned “Neutral” rating on Thursday, October 29 by Piper Jaffray. Gabelli initiated the stock with “Buy” rating in Wednesday, June 29 report.

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 dived, 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.
Lsv Asset, a Illinois-based fund reported 579,118 shares. Moreover, Dimensional Fund Advsrs L P has 0.02% invested in Flushing Financial Corporation (NASDAQ:FFIC) for 2.09 million shares. Bridgeway Mgmt holds 0.03% of its portfolio in Flushing Financial Corporation (NASDAQ:FFIC) for 87,597 shares. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in Flushing Financial Corporation (NASDAQ:FFIC) for 1,706 shares. Manufacturers Life Commerce The holds 661,477 shares or 0.02% of its portfolio. Emerald Mutual Fund Advisers Trust last reported 82,750 shares in the company. Sei has invested 0% of its portfolio in Flushing Financial Corporation (NASDAQ:FFIC). Gabelli Funds Lc owns 536,093 shares or 0.06% of their US portfolio. Alphaone Investment Ser Limited Liability Company has 0.79% invested in the company for 107,662 shares. Numeric Lc last reported 0.01% of its portfolio in the stock. Blackrock Institutional Tru Na last reported 894,862 shares in the company. Rbf Ltd Liability, a California-based fund reported 10,983 shares. Pnc Group last reported 205 shares in the company. Bnp Paribas Arbitrage Sa last reported 0% of its portfolio in the stock. Blackrock Fund owns 718,662 shares or 0% of their US portfolio.

Insider Transactions: Since May 19, 2016, the stock had 1 buy, and 17 insider sales for $1.32 million net activity. $216,100 worth of shares were sold by ROE JOHN E SR on Thursday, November 3. Allen Brewer M. sold $6,810 worth of stock. Cullen Susan bought $15,997 worth of Flushing Financial Corporation (NASDAQ:FFIC) on Thursday, May 19. 3,872 shares with value of $86,487 were sold by KORZEKWINSKI FRANCIS W on Wednesday, August 17. 7,850 shares were sold by BENNETT JAMES DAVISON, worth $175,977 on Tuesday, August 23. Shares for $105,363 were sold by Grasso Maria A on Tuesday, August 9. $20,726 worth of Flushing Financial Corporation (NASDAQ:FFIC) shares were sold by dePasquale Caterina.

More recent Flushing Financial Corporation (NASDAQ:FFIC) news were published by: Globenewswire.com which released: “Flushing Financial Corporation to Meet With Institutional Investors” on November 14, 2016. Also Marketwatch.com published the news titled: “Flushing Financial Corp.” on December 21, 2009. Reuters.com‘s news article titled: “BRIEF-Flushing Financial Corp reports third quarter GAAP” with publication date: October 25, 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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