Flushing Financial price target lowered to $13.50 from $17 at DA Davidson

DA Davidson lowered the firm’s price target on Flushing Financial (FFIC) to $13.50 from $17 and keeps a Neutral rating on the shares. While investors have painted the company as a direct comparison to New York Community Bank (NYCB) given both banks’ historic Mutlifamily lending focus, Flushing is unlikely to see the loss content or dividend cut that impacted New York Community Bank with Q4 results, the analyst tells investors in a research note. Flushing also has better relative credit metrics that should calm fears in the near term, the firm added.