Metropolitan Life Insurance Co. NY lessened its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,526 shares of the bank’s stock after selling 9,959 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Flushing Financial were worth $262,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Flushing Financial during the 3rd quarter worth about $135,000. Teacher Retirement System of Texas bought a new stake in shares of Flushing Financial during the 4th quarter worth about $263,000. OxFORD Asset Management LLP bought a new stake in shares of Flushing Financial during the 3rd quarter worth about $298,000. Schroder Investment Management Group boosted its stake in shares of Flushing Financial by 96.1% during the 4th quarter. Schroder Investment Management Group now owns 12,021 shares of the bank’s stock worth $331,000 after acquiring an additional 5,891 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Flushing Financial during the 3rd quarter worth about $430,000. Institutional investors own 80.59% of the company’s stock.
NASDAQ FFIC opened at $27.41 on Monday. Flushing Financial Co. has a twelve month low of $24.59 and a twelve month high of $31.69. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.46. The stock has a market cap of $784.89, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.
Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Tuesday, January 30th. The bank reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.09). Flushing Financial had a return on equity of 8.59% and a net margin of 16.79%. The business had revenue of $46.12 million for the quarter. analysts expect that Flushing Financial Co. will post 1.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 8th. This is a boost from Flushing Financial’s previous quarterly dividend of $0.18. Flushing Financial’s payout ratio is currently 50.96%.
Flushing Financial declared that its board has approved a stock repurchase plan on Tuesday, February 27th that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently issued reports on FFIC. BidaskClub downgraded Flushing Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Zacks Investment Research downgraded Flushing Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. ValuEngine downgraded Flushing Financial from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Sandler O’Neill upgraded Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $29.75.
In related news, Director Donna M. Obrien sold 6,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $27.73, for a total transaction of $166,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.86% of the stock is currently owned by insiders.
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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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
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