JPMorgan Chase & Co. lessened its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 389,905 shares of the bank’s stock after selling 36,348 shares during the period. JPMorgan Chase & Co. owned 1.35% of Flushing Financial worth $11,747,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Legal & General Group Plc lifted its stake in Flushing Financial by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 10,446 shares of the bank’s stock valued at $295,000 after acquiring an additional 207 shares during the period. Wells Fargo & Company MN increased its position in shares of Flushing Financial by 0.8% during the 2nd quarter. Wells Fargo & Company MN now owns 30,381 shares of the bank’s stock valued at $857,000 after purchasing an additional 230 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Flushing Financial by 2.4% during the 2nd quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock valued at $284,000 after purchasing an additional 233 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Flushing Financial by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 100,927 shares of the bank’s stock valued at $2,845,000 after purchasing an additional 785 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Flushing Financial by 5.7% during the 2nd quarter. Voya Investment Management LLC now owns 18,661 shares of the bank’s stock valued at $526,000 after purchasing an additional 1,001 shares during the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.
Several research firms have recently commented on FFIC. ValuEngine raised shares of Flushing Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Sandler O’Neill lowered shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a report on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “hold” rating and issued a $28.00 target price on shares of Flushing Financial in a report on Friday, November 10th. Zacks Investment Research lowered shares of Flushing Financial from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $30.00 price objective on shares of Flushing Financial in a report on Sunday, October 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.25.
Flushing Financial Co. (FFIC) traded up $0.01 during midday trading on Friday, hitting $28.84. The stock had a trading volume of 30,760 shares, compared to its average volume of 63,650. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.23. The company has a market cap of $831.17, a P/E ratio of 16.96, a P/E/G ratio of 1.59 and a beta of 1.07. Flushing Financial Co. has a 52-week low of $24.27 and a 52-week high of $31.69.
Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, October 31st. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). The firm had revenue of $44.70 million for the quarter. Flushing Financial had a net margin of 19.50% and a return on equity of 9.04%. equities analysts expect that Flushing Financial Co. will post 1.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a $0.18 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.50%. Flushing Financial’s dividend payout ratio is presently 42.35%.
In other Flushing Financial news, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $28.93, for a total value of $144,650.00. Following the sale, the director now owns 41,066 shares in the company, valued at $1,188,039.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John E. Sr Roe, Sr. sold 3,629 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $26.98, for a total value of $97,910.42. Following the completion of the sale, the director now owns 66,434 shares in the company, valued at approximately $1,792,389.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,058 shares of company stock valued at $443,589. 4.86% of the stock is owned by corporate insiders.
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Flushing Financial 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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