Shell Asset Management Co. Sells 2,358 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Shell Asset Management Co. trimmed its position in Flushing Financial Co. (NASDAQ:FFIC – Get Rating) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,929 shares of the bank’s stock after selling 2,358 shares during the quarter. Shell Asset Management Co.’s holdings in Flushing Financial were worth $356,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FFIC. Cornerstone Investment Partners LLC bought a new stake in shares of Flushing Financial in the fourth quarter worth about $271,000. FNY Investment Advisers LLC bought a new stake in shares of Flushing Financial in the first quarter worth about $277,000. Campbell & CO Investment Adviser LLC increased its holdings in shares of Flushing Financial by 8.6% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 12,635 shares of the bank’s stock worth $307,000 after purchasing an additional 1,000 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Flushing Financial in the fourth quarter worth about $373,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Flushing Financial in the fourth quarter worth about $500,000. 73.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Flushing Financial

In other Flushing Financial news, COO Maria A. Grasso sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $22.00, for a total transaction of $132,000.00. Following the completion of the transaction, the chief operating officer now owns 76,525 shares in the company, valued at $1,683,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Francis W. Korzekwinski sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $22.17, for a total value of $110,850.00. Following the transaction, the executive vice president now owns 71,952 shares of the company’s stock, valued at $1,595,175.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Maria A. Grasso sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the transaction, the chief operating officer now directly owns 76,525 shares in the company, valued at approximately $1,683,550. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Flushing Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th.

Flushing Financial Trading Down 0.6 %

FFIC opened at $21.74 on Friday. The firm has a market cap of $659.74 million, a P/E ratio of 7.82 and a beta of 0.71. Flushing Financial Co. has a 12 month low of $20.50 and a 12 month high of $25.95. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $21.90 and a 200 day moving average of $22.48.

Flushing Financial (NASDAQ:FFIC – Get Rating) last announced its earnings results on Tuesday, July 26th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.14. Flushing Financial had a return on equity of 13.24% and a net margin of 28.96%. During the same quarter last year, the firm earned $0.73 earnings per share. As a group, research analysts forecast that Flushing Financial Co. will post 2.39 EPS for the current year.

Flushing Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date was Thursday, June 2nd. This represents a $0.88 annualized dividend and a dividend yield of 4.05%. Flushing Financial’s dividend payout ratio (DPR) is presently 31.65%.

About Flushing Financial

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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, demand accounts, NOW accounts, and certificates of deposit.

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