State Street Corp raised its position in Flushing Financial Corporation (NASDAQ:FFIC) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,185 shares of the bank’s stock after purchasing an additional 69,666 shares during the quarter. State Street Corp owned 2.04% of Flushing Financial worth $16,725,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. boosted its stake in Flushing Financial by 2.5% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 45,707 shares of the bank’s stock valued at $1,287,000 after acquiring an additional 1,100 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Flushing Financial by 7.9% during the second quarter. Macquarie Group Ltd. now owns 450,918 shares of the bank’s stock worth $12,711,000 after purchasing an additional 33,029 shares during the last quarter. Numeric Investors LLC raised its holdings in shares of Flushing Financial by 14.6% during the second quarter. Numeric Investors LLC now owns 95,693 shares of the bank’s stock worth $2,698,000 after purchasing an additional 12,200 shares during the last quarter. Brandywine Global Investment Management LLC increased its holdings in Flushing Financial by 43.5% in the second quarter. Brandywine Global Investment Management LLC now owns 68,413 shares of the bank’s stock valued at $1,929,000 after buying an additional 20,725 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Flushing Financial by 5.7% in the second quarter. Voya Investment Management LLC now owns 18,661 shares of the bank’s stock valued at $526,000 after buying an additional 1,001 shares in the last quarter. 77.36% of the stock is currently owned by institutional investors.
In other news, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $28.93, for a total value of $144,650.00. Following the completion of the transaction, the director now owns 41,066 shares in the company, valued at approximately $1,188,039.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna M. Obrien sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.33, for a total transaction of $81,990.00. Following the transaction, the director now owns 50,925 shares of the company’s stock, valued at $1,391,780.25. The disclosure for this sale can be found here. Insiders sold a total of 19,058 shares of company stock valued at $525,579 in the last 90 days. Company insiders own 4.86% of the company’s stock.
A number of research analysts have weighed in on FFIC shares. Zacks Investment Research cut shares of Flushing Financial from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 price target on shares of Flushing Financial in a research report on Sunday, October 8th. Sandler O’Neill lowered shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a “hold” rating and issued a $28.00 target price on shares of Flushing Financial in a report on Friday, November 10th. Finally, ValuEngine raised shares of Flushing Financial from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.25.
Shares of Flushing Financial Corporation (NASDAQ FFIC) traded down $0.16 during trading hours on Wednesday, hitting $27.58. 87,870 shares of the company’s stock were exchanged, compared to its average volume of 58,731. Flushing Financial Corporation has a 52 week low of $24.27 and a 52 week high of $31.96. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $799.46, a P/E ratio of 17.34, a PEG ratio of 1.70 and a beta of 1.06.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, October 31st. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.07). The company had revenue of $44.70 million during the quarter. Flushing Financial had a net margin of 19.50% and a return on equity of 9.04%. research analysts expect that Flushing Financial Corporation will post 1.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, December 7th. Flushing Financial’s dividend payout ratio (DPR) is presently 42.35%.
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Flushing Financial Company Profile
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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