Emerald Mutual Fund Advisers Trust reduced its position in shares of Flushing Financial Corp. (NASDAQ:FFIC) by 17.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,750 shares of the company’s stock after selling 17,295 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Flushing Financial Corp. were worth $1,645,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in 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 in the last quarter. 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 worth $693,000 after buying an additional 425 shares in the last quarter. Finally, Norges Bank purchased a new stake in Flushing Financial Corp. during the fourth quarter worth approximately $7,725,000. 76.88% of the stock is currently owned by institutional investors.
Flushing Financial Corp. (NASDAQ:FFIC) traded down 0.82% on Friday, reaching $23.08. 31,886 shares of the company’s stock traded hands. The company has a market cap of $669.80 million, a PE ratio of 10.68 and a beta of 0.93. Flushing Financial Corp. has a 12 month low of $18.95 and a 12 month high of $23.78. The firm’s 50 day moving average price is $23.07 and its 200 day moving average price is $21.42.
Flushing Financial Corp. (NASDAQ:FFIC) last issued its earnings results on Tuesday, July 26th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Flushing Financial Corp. had a net margin of 24.28% and a return on equity of 9.21%. The company had revenue of $79.61 million for the quarter, compared to the consensus estimate of $43.87 million. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 65.5% on a year-over-year basis. On average, equities analysts expect that Flushing Financial Corp. will post $1.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, September 7th. Flushing Financial Corp.’s payout ratio is 31.48%.
Several research analysts recently issued reports on FFIC shares. Gabelli started coverage on shares of Flushing Financial Corp. in a research note on Wednesday, June 29th. They set a “buy” rating and a $27.00 target price on the stock. Sandler O’Neill lowered shares of Flushing Financial Corp. from a “buy” rating to a “hold” rating and increased their target price for the stock from $23.00 to $24.00 in a research note on Wednesday, August 31st. Zacks Investment Research raised shares of Flushing Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, August 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Flushing Financial Corp. from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, August 1st.
In related news, insider Francis W. Korzekwinski sold 4,128 shares of Flushing Financial Corp. stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $22.25, for a total value of $91,848.00. Following the transaction, the insider now directly owns 66,824 shares of the company’s stock, valued at $1,486,834. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Maria A. Grasso sold 4,660 shares of Flushing Financial Corp. stock in a transaction on Tuesday, August 9th. The stock was 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 $1,875,431.67. The disclosure for this sale can be found here. 5.85% of the stock is currently owned by corporate insiders.
About Flushing Financial Corp.
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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