Prudential Financial Inc. reduced its position in Flushing Financial Co. (NASDAQ:FFIC) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,802 shares of the bank’s stock after selling 1,741 shares during the period. Prudential Financial Inc. owned 0.22% of Flushing Financial worth $1,394,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Flushing Financial by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the bank’s stock worth $31,000 after buying an additional 700 shares during the period. BNP Paribas Arbitrage SA boosted its position in Flushing Financial by 222.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,657 shares of the bank’s stock valued at $124,000 after acquiring an additional 3,902 shares in the last quarter. SG Americas Securities LLC bought a new stake in Flushing Financial during the 1st quarter valued at $164,000. Acadian Asset Management LLC bought a new stake in Flushing Financial during the 2nd quarter valued at $337,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Flushing Financial by 94.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 15,532 shares of the bank’s stock valued at $341,000 after acquiring an additional 7,557 shares in the last quarter. Institutional investors and hedge funds own 76.68% of the company’s stock.
FFIC has been the topic of several recent research reports. TheStreet cut Flushing Financial from a “b-” rating to a “c+” rating in a research report on Thursday, August 15th. Sandler O’Neill lowered Flushing Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. ValuEngine lowered Flushing Financial from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. Zacks Investment Research lowered Flushing Financial from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Finally, BidaskClub upgraded Flushing Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Flushing Financial currently has an average rating of “Hold” and an average target price of $25.00.
FFIC stock traded up $0.12 during midday trading on Friday, reaching $20.35. The stock had a trading volume of 430 shares, compared to its average volume of 56,962. The stock has a market cap of $574.19 million, a PE ratio of 10.51, a P/E/G ratio of 4.90 and a beta of 0.85. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a fifty day simple moving average of $19.62 and a two-hundred day simple moving average of $21.45. Flushing Financial Co. has a 52-week low of $18.80 and a 52-week high of $25.88.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $42.46 million during the quarter, compared to analysts’ expectations of $45.20 million. Flushing Financial had a return on equity of 9.44% and a net margin of 16.94%. On average, sell-side analysts predict that Flushing Financial Co. will post 1.6 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.21 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.13%. Flushing Financial’s dividend payout ratio (DPR) is 43.30%.
In other news, CEO John R. Buran bought 2,000 shares of Flushing Financial stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $19.19 per share, for a total transaction of $38,380.00. Following the purchase, the chief executive officer now directly owns 107,230 shares of the company’s stock, valued at approximately $2,057,743.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 2,400 shares of company stock valued at $46,034 in the last 90 days. 5.19% of the stock is currently owned by company insiders.
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, demand accounts, NOW accounts, and certificates of deposit.
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