Flushing Financial Corporation $FFIC Holdings Lifted by CSM Advisors LLC

CSM Advisors LLC raised its position in Flushing Financial Corporation (NASDAQ:FFIC) by 16.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,535 shares of the bank’s stock after purchasing an additional 56,085 shares during the quarter. CSM Advisors LLC owned about 1.18% of Flushing Financial worth $5,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in Flushing Financial by 3.8% in the 3rd quarter. Bank of America Corp DE now owns 124,225 shares of the bank’s stock worth $1,716,000 after buying an additional 4,503 shares in the last quarter. Aquatic Capital Management LLC raised its stake in Flushing Financial by 24.4% during the 3rd quarter. Aquatic Capital Management LLC now owns 31,686 shares of the bank’s stock valued at $438,000 after acquiring an additional 6,225 shares in the last quarter. Alliancebernstein L.P. boosted its position in Flushing Financial by 91.1% during the 3rd quarter. Alliancebernstein L.P. now owns 375,832 shares of the bank’s stock worth $5,190,000 after acquiring an additional 179,150 shares during the period. Creative Planning acquired a new position in Flushing Financial during the 3rd quarter worth $427,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Flushing Financial in the third quarter worth $147,000. Institutional investors own 67.10% of the company’s stock.

Insiders Place Their Bets

In other Flushing Financial news, EVP Thomas Buonaiuto sold 1,570 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the completion of the sale, the executive vice president owned 35,469 shares in the company, valued at $574,597.80. This represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.66% of the company’s stock.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $14.96 on Monday. The company has a market capitalization of $506.84 million, a price-to-earnings ratio of 27.70 and a beta of 0.82. Flushing Financial Corporation has a 1-year low of $10.65 and a 1-year high of $17.79. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $15.81 and its 200-day simple moving average is $15.19.

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). The business had revenue of $58.81 million during the quarter, compared to analysts’ expectations of $62.27 million. Flushing Financial had a return on equity of 5.95% and a net margin of 3.86%. On average, sell-side analysts predict that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.88 dividend on an annualized basis and a yield of 5.9%. Flushing Financial’s payout ratio is presently 162.96%.

Wall Street Analyst Weigh In

FFIC has been the topic of several research analyst reports. Raymond James Financial cut shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Zacks Research lowered Flushing Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings upgraded shares of Flushing Financial from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Flushing Financial presently has an average rating of “Hold” and an average price target of $16.80.

Flushing Financial 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.