Connor Clark & Lunn Investment Management Ltd. Makes New $625,000 Investment in Flushing Financial Corporation $FFIC

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Flushing Financial Corporation (NASDAQ:FFIC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 52,600 shares of the bank’s stock, valued at approximately $625,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Flushing Financial as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in FFIC. Y Intercept Hong Kong Ltd lifted its stake in shares of Flushing Financial by 396.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 114,595 shares of the bank’s stock valued at $1,361,000 after purchasing an additional 91,489 shares during the period. AlphaQuest LLC raised its holdings in Flushing Financial by 102,390.5% in the second quarter. AlphaQuest LLC now owns 21,523 shares of the bank’s stock worth $256,000 after purchasing an additional 21,502 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Flushing Financial by 202.0% during the second quarter. Janney Montgomery Scott LLC now owns 40,512 shares of the bank’s stock valued at $481,000 after buying an additional 27,096 shares during the period. Strs Ohio bought a new stake in shares of Flushing Financial during the 1st quarter valued at $505,000. Finally, Empowered Funds LLC grew its position in shares of Flushing Financial by 8.5% in the 1st quarter. Empowered Funds LLC now owns 102,944 shares of the bank’s stock worth $1,307,000 after buying an additional 8,036 shares during the period. Institutional investors own 67.10% of the company’s stock.

Flushing Financial Stock Down 1.1%

Shares of Flushing Financial stock opened at $15.19 on Thursday. The company has a 50-day simple moving average of $13.98 and a two-hundred day simple moving average of $13.02. The stock has a market capitalization of $513.09 million, a PE ratio of -12.76 and a beta of 0.87. Flushing Financial Corporation has a 52-week low of $10.65 and a 52-week high of $18.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, February 15th. The bank reported $0.58 earnings per share for the quarter. Flushing Financial had a negative net margin of 6.93% and a positive return on equity of 4.98%. The company had revenue of $54.81 million during the quarter. On average, analysts anticipate that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FFIC has been the subject of a number of recent research reports. Zacks Research raised shares of Flushing Financial from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Flushing Financial Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.