North Star Investment Management Corp. Purchases New Stake in Flushing Financial Corporation $FFIC

North Star Investment Management Corp. acquired a new position in shares of Flushing Financial Corporation (NASDAQ:FFIC) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 57,000 shares of the bank’s stock, valued at approximately $876,000.

Other large investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in Flushing Financial by 75.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,650 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Flushing Financial by 58.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock worth $50,000 after purchasing an additional 1,218 shares in the last quarter. Allworth Financial LP grew its stake in shares of Flushing Financial by 306.0% during the 4th quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock worth $60,000 after purchasing an additional 2,977 shares during the period. Summit Securities Group LLC acquired a new position in shares of Flushing Financial during the 4th quarter worth $82,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Flushing Financial in the 4th quarter valued at about $99,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Flushing Financial Stock Performance

NASDAQ FFIC opened at $15.48 on Tuesday. The business has a 50 day moving average price of $15.74 and a 200 day moving average price of $15.84. The company has a market capitalization of $524.63 million, a P/E ratio of 15.48 and a beta of 0.74. Flushing Financial Corporation has a 1-year low of $11.13 and a 1-year high of $17.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.89.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, April 28th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The firm had revenue of $56.98 million for the quarter, compared to analysts’ expectations of $61.15 million. Flushing Financial had a return on equity of 6.25% and a net margin of 7.15%.

Insider Activity

In other news, EVP Thomas Buonaiuto sold 10,778 shares of Flushing Financial stock in a transaction on Friday, May 8th. The stock was sold at an average price of $15.96, for a total transaction of $172,016.88. Following the completion of the transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at $394,068.36. The trade was a 30.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Flushing Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Flushing Financial presently has an average rating of “Hold” and a consensus price target of $16.80.

Flushing Financial Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.