Assenagon Asset Management S.A. bought a new position in Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,509 shares of the bank's stock, valued at approximately $450,000. Assenagon Asset Management S.A. owned about 0.09% of Flushing Financial at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC grew its position in Flushing Financial by 4.7% during the 2nd quarter. Renaissance Technologies LLC now owns 334,900 shares of the bank's stock valued at $4,404,000 after purchasing an additional 15,000 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Flushing Financial by 20.3% in the second quarter. Sei Investments Co. now owns 142,004 shares of the bank's stock worth $1,867,000 after buying an additional 24,008 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Flushing Financial by 1.3% during the second quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank's stock valued at $896,000 after buying an additional 907 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flushing Financial during the second quarter valued at approximately $61,000. Finally, AQR Capital Management LLC raised its holdings in Flushing Financial by 531.8% in the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank's stock worth $4,292,000 after acquiring an additional 274,720 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors.
Flushing Financial Stock Performance
Flushing Financial stock traded down $0.14 during midday trading on Friday, reaching $14.38. 269,651 shares of the company traded hands, compared to its average volume of 303,023. Flushing Financial Co. has a 12 month low of $10.74 and a 12 month high of $18.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day moving average of $15.68 and a two-hundred day moving average of $15.05. The firm has a market capitalization of $484.02 million, a price-to-earnings ratio of 16.53 and a beta of 0.81.
Flushing Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 6th. This represents a $0.88 annualized dividend and a dividend yield of 6.12%. Flushing Financial's payout ratio is 101.15%.
Insider Transactions at Flushing Financial
In related news, CAO Astrid Burrowes sold 8,000 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the transaction, the chief accounting officer now directly owns 34,853 shares of the company's stock, valued at approximately $564,270.07. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction on Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now owns 67,251 shares in the company, valued at $1,040,372.97. This trade represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.31% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Flushing Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $15.50.
Get Our Latest Research Report on Flushing Financial
Flushing Financial Profile
(
Free Report)
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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.
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