Flushing Financial Co. (NASDAQ:FFIC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 156.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,977 shares of the bank's stock after acquiring an additional 19,517 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of Flushing Financial worth $466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in Flushing Financial in the 3rd quarter valued at $4,936,000. AQR Capital Management LLC raised its holdings in shares of Flushing Financial by 531.8% in the second quarter. AQR Capital Management LLC now owns 326,376 shares of the bank's stock valued at $4,292,000 after buying an additional 274,720 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in shares of Flushing Financial by 11.5% during the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank's stock worth $5,960,000 after buying an additional 46,800 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Flushing Financial by 59.3% during the third quarter. GSA Capital Partners LLP now owns 107,142 shares of the bank's stock worth $1,562,000 after buying an additional 39,872 shares during the last quarter. Finally, Fourthstone LLC acquired a new position in Flushing Financial in the 3rd quarter valued at about $510,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Stock Performance

NASDAQ FFIC traded up $0.34 on Friday, hitting $13.95. 465,303 shares of the company's stock were exchanged, compared to its average volume of 329,491. 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 firm's 50-day moving average price is $15.34 and its two-hundred day moving average price is $15.05. The firm has a market cap of $469.56 million, a price-to-earnings ratio of -13.81 and a beta of 0.81. Flushing Financial Co. has a fifty-two week low of $10.74 and a fifty-two week high of $18.59.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. On average, research analysts expect that Flushing Financial Co. will post 1.28 EPS for the current year.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 6th. This represents a $0.88 annualized dividend and a yield of 6.31%. Flushing Financial's payout ratio is currently -87.13%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Flushing Financial from a "hold" rating to a "sell" rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.50.

About Flushing Financial

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.