Gabelli & Co. Initiates Coverage on Flushing Financial Corporation to Buy

Gabelli & Co. Initiates Coverage on Flushing Financial Corporation(NASDAQ:FFIC). The shares have been rated Buy. The rating by Gabelli & Co. was issued on Jun 29, 2016.

Flushing Financial Corporation (FFIC) shares turned negative on Fridays trading session with the shares closing down -0.16 points or -0.80% at a volume of 47,057. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.85. The peak price level was also seen at $19.85 while the days lowest was $19.56. Finally the shares closed at $19.72. The 52-week high of the shares is $23.07 while the 52-week low is $18.95. According to the latest information available, the market cap of the company is $571 M.

Flushing Financial Corporation(FFIC) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $43.67M. Analysts had an estimated revenue of $42.52M. Earnings per share were $0.33. Analysts had estimated an EPS of $0.34.

Several Insider Transactions has been reported to the SEC. On Jun 16, 2016, Caterina Depasquale (Senior Vice President) sold 1,025 shares at $20.22 per share price.Also, On Jun 3, 2016, John R Buran (President & CEO) sold 8,000 shares at $20.94 per share price.On May 31, 2016, Donna M Obrien (director) sold 4,800 shares at $20.99 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 The Bank has a business banking unit which provides a range of commercial business deposit loan and cash management products.

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