OxFORD Asset Management LLP acquired a new stake in Flushing Financial Co. (NASDAQ:FFIC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,066 shares of the bank’s stock, valued at approximately $298,000.
Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Flushing Financial in the third quarter valued at about $135,000. BNP Paribas Arbitrage SA grew its holdings in Flushing Financial by 277.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock worth $136,000 after acquiring an additional 3,553 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Flushing Financial during the second quarter worth about $221,000. Schroder Investment Management Group grew its holdings in Flushing Financial by 2.4% during the second quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock worth $284,000 after acquiring an additional 233 shares during the period. Finally, Legal & General Group Plc grew its holdings in Flushing Financial by 2.0% during the second quarter. Legal & General Group Plc now owns 10,446 shares of the bank’s stock worth $295,000 after acquiring an additional 207 shares during the period. 77.36% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $30.00 target price on shares of Flushing Financial in a report on Sunday, October 8th. Zacks Investment Research raised Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Tuesday, September 19th. Sandler O’Neill lowered Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Thursday, November 30th. They noted that the move was a valuation call. ValuEngine raised Flushing Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $28.00 target price on shares of Flushing Financial in a report on Friday, November 10th. One equities research 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. The company has an average rating of “Hold” and an average price target of $30.25.
In other Flushing Financial news, Director John E. Sr Roe, Sr. sold 3,629 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $26.98, for a total transaction of $97,910.42. Following the transaction, the director now owns 66,434 shares in the company, valued at $1,792,389.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 41,066 shares in the company, valued at approximately $1,188,039.38. The disclosure for this sale can be found here. Insiders have sold 16,058 shares of company stock worth $443,589 in the last quarter. 4.86% of the stock is currently owned by company insiders.
Flushing Financial Co. (NASDAQ FFIC) opened at $28.84 on Friday. The stock has a market capitalization of $831.17, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.23. Flushing Financial Co. has a 1 year low of $24.27 and a 1 year high of $31.69.
Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Tuesday, October 31st. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). The business had revenue of $44.70 million for the quarter. Flushing Financial had a return on equity of 9.04% and a net margin of 19.50%. equities analysts forecast that Flushing Financial Co. will post 1.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend 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 currently 42.35%.
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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