Flushing Financial price target raised to $17 from $16 at Raymond James

Raymond James analyst Steve Moss raised the firm’s price target on Flushing Financial to $17 from $16 and keeps an Outperform rating on the shares. Flushing Financial’s Q2 results were impacted by the inverted curve and the extension of loans due to sharply higher interest rates. Funding costs appear close to the peak given the absolute high rate and likely Fed cuts later this quarter, which should support NIM expansion as loans reprice over the next 18-month, the firm syas.