LSV Asset Management Has $4.24 Million Stock Position in Flushing Financial Co. (NASDAQ:FFIC)

LSV Asset Management trimmed its position in shares of Flushing Financial Co. (NASDAQ:FFIC) by 32.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 257,525 shares of the bank’s stock after selling 126,098 shares during the quarter. LSV Asset Management owned 0.89% of Flushing Financial worth $4,244,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. SG Americas Securities LLC lifted its position in Flushing Financial by 72.4% in the 3rd quarter. SG Americas Securities LLC now owns 15,944 shares of the bank’s stock valued at $209,000 after acquiring an additional 6,697 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Flushing Financial by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 211,705 shares of the bank’s stock worth $2,780,000 after buying an additional 3,922 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Flushing Financial in the 3rd quarter valued at $149,000. Gamco Investors INC. ET AL lifted its stake in Flushing Financial by 1.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,158,402 shares of the bank’s stock valued at $15,210,000 after acquiring an additional 12,602 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in Flushing Financial by 0.7% during the 3rd quarter. Gabelli Funds LLC now owns 490,439 shares of the bank’s stock worth $6,439,000 after acquiring an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Price Performance

FFIC opened at $12.41 on Thursday. The company has a market capitalization of $360.76 million, a price-to-earnings ratio of 12.41 and a beta of 0.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $12.01 and a 200-day moving average price of $13.77. Flushing Financial Co. has a twelve month low of $9.28 and a twelve month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $112.58 million for the quarter, compared to analysts’ expectations of $47.12 million. Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. During the same quarter in the prior year, the company earned $0.10 EPS. Equities analysts expect that Flushing Financial Co. will post 0.71 EPS for the current year.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend was Friday, March 8th. Flushing Financial’s payout ratio is 88.00%.

Insider Activity

In other Flushing Financial news, EVP Francis W. Korzekwinski sold 7,649 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the transaction, the executive vice president now directly owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total transaction of $96,453.89. Following the completion of the transaction, the executive vice president now owns 73,493 shares of the company’s stock, valued at $926,746.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas Buonaiuto sold 19,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now directly owns 32,391 shares in the company, valued at $427,885.11. The disclosure for this sale can be found here. 6.31% of the stock is owned by company insiders.

Analysts Set New Price Targets

FFIC has been the topic of several analyst reports. StockNews.com cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Flushing Financial from $14.00 to $13.00 and set a “market perform” rating for the company in a report on Friday, April 26th. Finally, DA Davidson reduced their target price on shares of Flushing Financial from $17.00 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, March 5th.

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.