GSA Capital Partners LLP Makes New $833,000 Investment in Flushing Financial Corporation $FFIC

GSA Capital Partners LLP bought a new stake in Flushing Financial Corporation (NASDAQ:FFIC) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 60,306 shares of the bank’s stock, valued at approximately $833,000. GSA Capital Partners LLP owned 0.18% of Flushing Financial as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in Flushing Financial by 75.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after buying an additional 1,650 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in shares of Flushing Financial by 37.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock worth $96,000 after acquiring an additional 2,194 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Flushing Financial in the 3rd quarter worth about $152,000. Savant Capital LLC acquired a new stake in shares of Flushing Financial in the 3rd quarter worth about $182,000. Finally, First Interstate Bank bought a new stake in Flushing Financial in the 3rd quarter valued at about $221,000. Institutional investors own 67.10% of the company’s stock.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $16.68 on Friday. Flushing Financial Corporation has a twelve month low of $10.65 and a twelve month high of $17.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average of $16.13 and a two-hundred day moving average of $14.85. The company has a market capitalization of $563.45 million, a price-to-earnings ratio of 30.89 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). Flushing Financial had a return on equity of 5.96% and a net margin of 3.86%.The business had revenue of $58.81 million during the quarter, compared to analyst estimates of $62.27 million. As a group, analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 5.3%. Flushing Financial’s dividend payout ratio is currently 162.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FFIC shares. Keefe, Bruyette & Woods boosted their price objective on Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Raymond James Financial downgraded Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Wall Street Zen cut Flushing Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Flushing Financial in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $16.80.

Insider Activity at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 1,570 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $16.20, for a total transaction of $25,434.00. Following the completion of the sale, the executive vice president directly owned 35,469 shares of the company’s stock, valued at $574,597.80. This trade represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.66% of the company’s stock.

Flushing Financial Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.