LSV Asset Management Reduces Position in Flushing Financial Co. (NASDAQ:FFIC)

LSV Asset Management reduced its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 32.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 257,525 shares of the bank’s stock after selling 126,098 shares during the period. LSV Asset Management’s holdings in Flushing Financial were worth $4,244,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FFIC. Emerald Mutual Fund Advisers Trust purchased a new stake in Flushing Financial in the 3rd quarter valued at about $149,000. EMC Capital Management boosted its stake in shares of Flushing Financial by 116.7% during the third quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock valued at $151,000 after purchasing an additional 6,189 shares in the last quarter. SG Americas Securities LLC boosted its position in Flushing Financial by 72.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock valued at $209,000 after acquiring an additional 6,697 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Flushing Financial during the fourth quarter valued at about $482,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Flushing Financial by 36.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 57,366 shares of the bank’s stock valued at $753,000 after acquiring an additional 15,291 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

Flushing Financial Trading Up 1.7 %

Shares of NASDAQ:FFIC opened at $12.41 on Thursday. Flushing Financial Co. has a 52-week low of $9.28 and a 52-week high of $18.00. The business has a 50-day moving average price of $12.01 and a 200-day moving average price of $13.77. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock has a market cap of $360.76 million, a price-to-earnings ratio of 12.41 and a beta of 0.75.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. The business had revenue of $112.58 million during the quarter, compared to analysts’ expectations of $47.12 million. During the same period last year, the company earned $0.10 earnings per share. Equities analysts predict that Flushing Financial Co. will post 0.71 EPS for the current year.

Flushing Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, March 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.09%. Flushing Financial’s payout ratio is currently 88.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods dropped their price target on Flushing Financial from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, DA Davidson lowered their target price on shares of Flushing Financial from $17.00 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, March 5th.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the transaction, the executive vice president now directly owns 32,391 shares of the company’s stock, valued at $427,885.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Flushing Financial news, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the transaction, the executive vice president now owns 32,391 shares in the company, valued at $427,885.11. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Francis W. Korzekwinski sold 7,649 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total value of $96,453.89. Following the sale, the executive vice president now owns 73,493 shares in the company, valued at $926,746.73. The disclosure for this sale can be found here. Company insiders own 6.31% of the company’s stock.

Flushing Financial Company 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.