Bank of New York Mellon Corp boosted its stake in Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 36.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 257,765 shares of the bank's stock after purchasing an additional 68,260 shares during the quarter. Bank of New York Mellon Corp owned about 0.77% of Flushing Financial worth $3,681,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in FFIC. Geode Capital Management LLC lifted its position in shares of Flushing Financial by 0.7% during the third quarter. Geode Capital Management LLC now owns 694,216 shares of the bank's stock valued at $10,124,000 after purchasing an additional 5,128 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Flushing Financial by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank's stock worth $3,401,000 after purchasing an additional 4,876 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Flushing Financial by 15.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank's stock worth $239,000 after purchasing an additional 2,219 shares in the last quarter. Barclays PLC increased its stake in shares of Flushing Financial by 56.8% in the third quarter. Barclays PLC now owns 51,833 shares of the bank's stock worth $756,000 after purchasing an additional 18,773 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Flushing Financial in the fourth quarter worth about $450,000. 67.10% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of Flushing Financial from a "sell" rating to a "hold" rating in a research note on Monday, March 17th.
Check Out Our Latest Analysis on FFIC
Insider Activity at Flushing Financial
In related news, EVP Thomas Buonaiuto sold 6,800 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total transaction of $87,856.00. Following the completion of the transaction, the executive vice president now owns 32,336 shares of the company's stock, valued at approximately $417,781.12. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.31% of the stock is owned by corporate insiders.
Flushing Financial Stock Performance
Shares of FFIC traded down $0.19 during trading hours on Friday, hitting $12.96. The company's stock had a trading volume of 1,704,543 shares, compared to its average volume of 220,887. The company has a market cap of $437.75 million, a price-to-earnings ratio of -12.83 and a beta of 0.79. 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 simple moving average of $14.15 and a two-hundred day simple moving average of $14.99. Flushing Financial Co. has a 52-week low of $10.74 and a 52-week high of $18.59.
Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. On average, equities analysts expect that Flushing Financial Co. will post 1.2 earnings per share for the current fiscal year.
Flushing Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.88 annualized dividend and a yield of 6.79%. Flushing Financial's dividend payout ratio is currently -87.13%.
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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