Foundry Partners LLC Invests $4.50 Million in Flushing Financial Co. (NASDAQ:FFIC)

Foundry Partners LLC acquired a new stake in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 315,015 shares of the bank's stock, valued at approximately $4,498,000. Foundry Partners LLC owned approximately 0.94% of Flushing Financial as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Perritt Capital Management Inc lifted its position in Flushing Financial by 50.0% during the 4th quarter. Perritt Capital Management Inc now owns 15,000 shares of the bank's stock valued at $214,000 after acquiring an additional 5,000 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Flushing Financial during the fourth quarter valued at approximately $1,097,000. Trexquant Investment LP boosted its position in shares of Flushing Financial by 45.2% in the 4th quarter. Trexquant Investment LP now owns 141,493 shares of the bank's stock worth $2,021,000 after purchasing an additional 44,060 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Flushing Financial by 743.3% in the 4th quarter. Franklin Resources Inc. now owns 149,373 shares of the bank's stock worth $2,133,000 after buying an additional 131,661 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Flushing Financial by 284.4% during the 4th quarter. Alliancebernstein L.P. now owns 183,672 shares of the bank's stock valued at $2,623,000 after buying an additional 135,887 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company's stock.

Flushing Financial Stock Performance

Shares of Flushing Financial stock traded down $0.72 during trading on Thursday, hitting $10.98. 80,770 shares of the company's stock traded hands, compared to its average volume of 239,946. Flushing Financial Co. has a 1 year low of $10.65 and a 1 year high of $18.59. The business has a 50-day simple moving average of $13.46 and a 200-day simple moving average of $14.79. 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 stock has a market capitalization of $370.74 million, a P/E ratio of -10.84 and a beta of 0.67.

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 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%. As a group, analysts forecast that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 8.02%. The ex-dividend date was Friday, March 14th. Flushing Financial's payout ratio is currently -87.13%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Flushing Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, March 25th.

Insider Activity at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the transaction, the executive vice president now directly owns 32,336 shares in the company, valued at approximately $417,781.12. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.31% of the stock is owned by company insiders.

Flushing Financial Profile

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.