Swiss National Bank continued to hold its stake in Flushing Financial Corp. (NASDAQ:FFIC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,423 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.15% of Flushing Financial Corp. worth $843,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Flushing Financial Corp. during the fourth quarter valued at about $7,725,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Flushing Financial Corp. by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 32,070 shares of the company’s stock valued at $693,000 after buying an additional 425 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Flushing Financial Corp. by 1.4% in the first quarter. Wellington Management Group LLP now owns 2,725,898 shares of the company’s stock worth $58,933,000 after buying an additional 38,723 shares during the period. Bank of New York Mellon Corp increased its position in shares of Flushing Financial Corp. by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 177,229 shares of the company’s stock worth $3,524,000 after buying an additional 4,509 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of Flushing Financial Corp. by 3.5% in the second quarter. Frontier Capital Management Co. LLC now owns 1,896,462 shares of the company’s stock worth $37,702,000 after buying an additional 64,550 shares during the period. Institutional investors and hedge funds own 76.88% of the company’s stock.
Flushing Financial Corp. (NASDAQ:FFIC) traded down 0.82% during trading on Friday, hitting $23.08. The stock had a trading volume of 31,886 shares. The firm has a 50 day moving average price of $23.07 and a 200-day moving average price of $21.42. The firm has a market capitalization of $669.80 million, a PE ratio of 10.68 and a beta of 0.93. Flushing Financial Corp. has a 1-year low of $18.95 and a 1-year high of $23.78.
Flushing Financial Corp. (NASDAQ:FFIC) last issued its earnings results on Tuesday, July 26th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company earned $79.61 million during the quarter, compared to the consensus estimate of $43.87 million. Flushing Financial Corp. had a return on equity of 9.21% and a net margin of 24.28%. The firm’s revenue for the quarter was up 65.5% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, equities research analysts expect that Flushing Financial Corp. will post $1.63 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.68 annualized dividend and a dividend yield of 2.95%. Flushing Financial Corp.’s dividend payout ratio is presently 31.48%.
A number of equities analysts have weighed in on FFIC shares. Gabelli started coverage on Flushing Financial Corp. in a research report on Wednesday, June 29th. They set a “buy” rating and a $27.00 price target on the stock. Keefe, Bruyette & Woods boosted their price target on Flushing Financial Corp. from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Zacks Investment Research raised Flushing Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, August 30th. Finally, Sandler O’Neill downgraded Flushing Financial Corp. from a “buy” rating to a “hold” rating and boosted their price target for the stock from $23.00 to $24.00 in a research report on Wednesday, August 31st.
In related news, Director John E. Sr Roe, Sr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $22.35, for a total value of $223,500.00. Following the transaction, the director now owns 75,634 shares of the company’s stock, valued at approximately $1,690,419.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Maria A. Grasso sold 4,660 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $22.61, for a total transaction of $105,362.60. Following the completion of the transaction, the executive vice president now directly owns 82,947 shares in the company, valued at approximately $1,875,431.67. The disclosure for this sale can be found here. 5.85% of the stock is owned by insiders.
Flushing Financial Corp. Company 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 owns three subsidiaries: Flushing Preferred Funding Corporation (FPFC), Flushing Service Corporation, and FSB Properties Inc (Properties).
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