Teachers Advisors LLC raised its position in Flushing Financial Co. (NASDAQ:FFIC) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,793 shares of the bank’s stock after buying an additional 1,744 shares during the period. Teachers Advisors LLC owned approximately 0.18% of Flushing Financial worth $1,392,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Flushing Financial during the first quarter worth about $133,000. Bank of Montreal Can increased its position in shares of Flushing Financial by 60.0% in the first quarter. Bank of Montreal Can now owns 7,450 shares of the bank’s stock worth $200,000 after buying an additional 2,793 shares during the period. Oxford Asset Management acquired a new position in shares of Flushing Financial during the first quarter worth about $212,000. Karp Capital Management Corp acquired a new position in shares of Flushing Financial during the first quarter worth about $251,000. Finally, Schroder Investment Management Group increased its position in shares of Flushing Financial by 77.9% in the first quarter. Schroder Investment Management Group now owns 9,822 shares of the bank’s stock worth $267,000 after buying an additional 4,301 shares during the period. 76.97% of the stock is owned by institutional investors and hedge funds.
Flushing Financial Co. (NASDAQ FFIC) traded up 0.81% during midday trading on Friday, hitting $27.42. The company had a trading volume of 25,191 shares. Flushing Financial Co. has a 12-month low of $20.95 and a 12-month high of $31.96. The company’s 50 day moving average is $28.00 and its 200 day moving average is $27.92. The stock has a market cap of $798.88 million, a price-to-earnings ratio of 15.96 and a beta of 1.11.
Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. Flushing Financial had a net margin of 27.93% and a return on equity of 9.63%. The business had revenue of $45.57 million for the quarter, compared to analysts’ expectations of $46.79 million. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, equities analysts anticipate that Flushing Financial Co. will post $1.74 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 2.63%. Flushing Financial’s dividend payout ratio (DPR) is currently 41.62%.
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A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Flushing Financial from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded Flushing Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $30.00 target price on shares of Flushing Financial in a research note on Thursday, August 10th. ValuEngine raised Flushing Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $28.00 target price on shares of Flushing Financial in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.00.
In related news, COO Maria A. Grasso sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $26.77, for a total value of $107,080.00. Following the transaction, the chief operating officer now directly owns 74,223 shares in the company, valued at $1,986,949.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.86% of the stock is owned by corporate insiders.
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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