Mendon Capital Advisors Corp Makes New Investment in Flushing Financial Co. (NASDAQ:FFIC)

Mendon Capital Advisors Corp purchased a new stake in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 350,000 shares of the bank's stock, valued at approximately $4,998,000. Flushing Financial accounts for approximately 2.5% of Mendon Capital Advisors Corp's holdings, making the stock its 14th biggest holding. Mendon Capital Advisors Corp owned about 1.04% of Flushing Financial at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New York State Common Retirement Fund boosted its position in shares of Flushing Financial by 27.8% during the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank's stock worth $92,000 after buying an additional 1,400 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Flushing Financial by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 234,974 shares of the bank's stock valued at $3,355,000 after buying an additional 1,738 shares in the last quarter. R Squared Ltd purchased a new position in shares of Flushing Financial during the fourth quarter worth about $28,000. Y Intercept Hong Kong Ltd grew its stake in Flushing Financial by 15.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank's stock worth $239,000 after buying an additional 2,219 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Flushing Financial by 2.8% in the 4th quarter. Empowered Funds LLC now owns 94,908 shares of the bank's stock valued at $1,355,000 after acquiring an additional 2,596 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Flushing Financial Stock Performance

NASDAQ:FFIC traded down $0.06 during mid-day trading on Friday, reaching $12.25. The stock had a trading volume of 192,627 shares, compared to its average volume of 245,843. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The business has a 50 day simple moving average of $12.72 and a 200 day simple moving average of $14.57. Flushing Financial Co. has a twelve month low of $10.65 and a twelve month high of $18.59. The firm has a market capitalization of $413.77 million, a price-to-earnings ratio of -12.13 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 (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, analysts expect that Flushing Financial Co. will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.18%. Flushing Financial's dividend payout ratio (DPR) is -87.13%.

Insider Activity

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of Flushing Financial stock in a transaction 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 owns 32,336 shares in the company, valued at $417,781.12. This trade represents a 17.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.31% of the company's stock.

Flushing Financial Company 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.