KBW Issues a Hold Rating on Astoria Financial Corp

By Ryan Adsit

KBW analyst Collyn Gilbert reiterated a Hold rating on Astoria Financial Corp (NYSE: AF) on March 9 and set a price target of $25.50. The company’s shares closed last Friday at $21.18, close to its 52-week high of $21.66.

According to TipRanks.com, Gilbert is a 5-star analyst with an average return of 21.2% and a 85.3% success rate. Gilbert covers the Financial sector, focusing on stocks such as The First Of Long Island Corp, Provident Financial Services, and Meridian Interstate Bancorp.

Currently, the analyst consensus on Astoria Financial Corp is Moderate Sell and the average price target is $24.50, representing a 15.7% upside.

In a report issued on March 8, Piper Jaffray also downgraded the stock to Hold with a $23.50 price target.

The company has a one year high of $21.66 and a one year low of $14.11. Currently, Astoria Financial Corp has an average volume of 1.91M.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2015, Robert Destefano, the EVP of AF sold 2,500 shares for a total of $33,075.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Astoria Financial Corp. is a holding company, which through its subsidiary Astoria Bank, engages in attracting retail deposits from the general public and businesses. It invests in principal repayments on loans and securities and borrowings, primarily in multi-family and commercial real estate mortgage loans, one-to-four family, or residential, mortgage loans, and mortgage-backed securities. The company was founded in 1993 and is headquartered in Lake Success, NY.