Boston Partners lowered its position in Flushing Financial Co. (NASDAQ:FFIC) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,413 shares of the bank’s stock after selling 1,146 shares during the quarter. Boston Partners owned approximately 0.37% of Flushing Financial worth $2,130,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FFIC. Nuveen Asset Management LLC acquired a new stake in Flushing Financial in the second quarter valued at $2,322,000. BlackRock Inc. lifted its stake in Flushing Financial by 3.7% in the second quarter. BlackRock Inc. now owns 2,137,920 shares of the bank’s stock valued at $47,462,000 after acquiring an additional 76,939 shares during the last quarter. First Trust Advisors LP lifted its stake in Flushing Financial by 298.1% in the third quarter. First Trust Advisors LP now owns 80,334 shares of the bank’s stock valued at $1,623,000 after acquiring an additional 60,156 shares during the last quarter. Teton Advisors Inc. lifted its stake in Flushing Financial by 6.0% in the second quarter. Teton Advisors Inc. now owns 665,572 shares of the bank’s stock valued at $14,776,000 after acquiring an additional 37,380 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Flushing Financial by 4.4% in the second quarter. Renaissance Technologies LLC now owns 593,860 shares of the bank’s stock valued at $13,184,000 after acquiring an additional 25,200 shares during the last quarter. Hedge funds and other institutional investors own 74.56% of the company’s stock.
NASDAQ FFIC opened at $20.96 on Tuesday. The firm has a 50-day moving average of $21.37 and a 200-day moving average of $20.93. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $596.93 million, a PE ratio of 10.80, a P/E/G ratio of 4.73 and a beta of 0.84. Flushing Financial Co. has a 52-week low of $18.80 and a 52-week high of $23.75.
Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, October 29th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $39.99 million during the quarter. Flushing Financial had a net margin of 14.58% and a return on equity of 9.06%. As a group, analysts predict that Flushing Financial Co. will post 1.6 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Thursday, December 12th. Flushing Financial’s dividend payout ratio is presently 43.30%.
A number of analysts have commented on the stock. TheStreet cut shares of Flushing Financial from a “b-” rating to a “c+” rating in a research note on Thursday, August 15th. BidaskClub upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Keefe, Bruyette & Woods cut shares of Flushing Financial from a “market perform” rating to an “underperform” rating and cut their price target for the company from $21.50 to $19.00 in a research note on Monday, November 4th. Zacks Investment Research cut shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Sandler O’Neill upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $22.50 to $23.00 in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.67.
Flushing Financial Company Profile
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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