Flushing Financial Co. (NASDAQ:FFIC) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 58.7% in the 3rd quarter, Holdings Channel reports. The fund owned 17,973 shares of the bank’s stock after acquiring an additional 6,651 shares during the period. SG Americas Securities LLC’s holdings in Flushing Financial were worth $262,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Flushing Financial in the first quarter worth about $3,385,000. Assenagon Asset Management S.A. grew its stake in Flushing Financial by 41.0% in the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after purchasing an additional 46,871 shares in the last quarter. Empowered Funds LLC grew its stake in Flushing Financial by 183.4% in the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock worth $1,025,000 after purchasing an additional 52,627 shares in the last quarter. AQR Capital Management LLC grew its stake in Flushing Financial by 531.8% in the second quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock worth $4,292,000 after purchasing an additional 274,720 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in Flushing Financial by 11.5% in the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank’s stock worth $5,960,000 after purchasing an additional 46,800 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Maria A. Grasso sold 4,500 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total transaction of $60,705.00. Following the completion of the sale, the chief operating officer now owns 83,238 shares in the company, valued at approximately $1,122,880.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

FFIC has been the subject of a number of research reports. Piper Sandler downgraded Flushing Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $15.00 to $16.50 in a research note on Tuesday, July 30th. StockNews.com downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods lifted their price target on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Finally, Raymond James lifted their price target on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Flushing Financial currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Stock Performance

FFIC opened at $15.30 on Monday. The company has a market capitalization of $444.76 million, a price-to-earnings ratio of 15.30 and a beta of 0.76. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.01 and a quick ratio of 1.01. Flushing Financial Co. has a 1-year low of $10.74 and a 1-year high of $18.00. The business has a 50 day moving average price of $14.15 and a two-hundred day moving average price of $13.28.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same period in the prior year, the firm posted $0.26 earnings per share. Research analysts predict that Flushing Financial Co. will post 0.69 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.88 dividend on an annualized basis and a yield of 5.75%. Flushing Financial’s dividend payout ratio (DPR) is 88.00%.

About Flushing Financial

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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.