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Downgrade Alert for Flushing Financial (FFIC)

By Nick Russo

Flushing Financial (NASDAQ:FFIC) was downgraded from Buy to Hold at Sandler O'Neill today. The stock closed yesterday at $23.19 on volume of 94,000 shares, above average daily volume of 87,000.

In the past 52 weeks, shares of Flushing Financial have traded between a low of $18.95 and a high of $23.78 and closed yesterday at $23.19, which is 22% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.4%.

Based on a current price of $23.19, Flushing Financial is currently 3.0% above its average consensus analyst price target of $22.50. Flushing Financial shares have support at the 50-day moving average (MA) of $21.04 and additional support at the 200-day MA of $20.85.

Flushing Financial Corporation is the holding company for Flushing Savings Bank, FSB. The Bank attracts deposits and originates and purchases one-to-four family residential mortgage loans, commercial real estate loans, and multi-family property loans. Flushing Savings operates in New York City and Nassau County, New York.

SmarTrend recommended that subscribers consider buying shares of Flushing Financial on July 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.05. Since that recommendation, shares of Flushing Financial have risen 6.9%. We continue to monitor FFIC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades flushing financial

Ticker(s): FFIC