Angel Oak Capital Advisors LLC Takes Position in Flushing Financial Co. (NASDAQ:FFIC)

Angel Oak Capital Advisors LLC purchased a new stake in shares of Flushing Financial Co. (NASDAQ:FFIC) during the fourth quarter, Holdings Channel.com reports. The firm purchased 30,000 shares of the bank’s stock, valued at approximately $428,000. Flushing Financial accounts for approximately 0.6% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. Verition Fund Management LLC acquired a new stake in Flushing Financial during the 3rd quarter worth about $4,936,000. Stieven Capital Advisors L.P. purchased a new position in shares of Flushing Financial in the fourth quarter worth about $3,344,000. GSA Capital Partners LLP lifted its holdings in shares of Flushing Financial by 59.3% during the third quarter. GSA Capital Partners LLP now owns 107,142 shares of the bank’s stock worth $1,562,000 after purchasing an additional 39,872 shares during the period. Fourthstone LLC purchased a new stake in Flushing Financial in the third quarter valued at approximately $510,000. Finally, Assenagon Asset Management S.A. acquired a new position in Flushing Financial in the 4th quarter worth approximately $450,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

Flushing Financial Trading Up 0.7 %

FFIC opened at $15.00 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. The company’s 50 day simple moving average is $14.67 and its two-hundred day simple moving average is $14.98. The firm has a market capitalization of $504.90 million, a price-to-earnings ratio of -14.85 and a beta of 0.81. Flushing Financial Co. has a 1-year low of $10.74 and a 1-year high of $18.59.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. Analysts expect that Flushing Financial Co. will post 1.2 EPS for the current fiscal year.

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.