Flushing Financial Co. (NASDAQ:FFIC) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC raised its holdings in Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 531.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 326,376 shares of the bank's stock after buying an additional 274,720 shares during the period. AQR Capital Management LLC owned 1.12% of Flushing Financial worth $4,292,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. acquired a new stake in shares of Flushing Financial in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in shares of Flushing Financial in the 1st quarter valued at about $32,000. EntryPoint Capital LLC acquired a new position in shares of Flushing Financial during the 1st quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Flushing Financial during the 2nd quarter worth about $61,000. Finally, CWM LLC raised its holdings in shares of Flushing Financial by 87.0% in the 2nd quarter. CWM LLC now owns 5,534 shares of the bank's stock valued at $73,000 after purchasing an additional 2,575 shares during the period. 67.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FFIC has been the topic of a number of recent analyst reports. StockNews.com downgraded Flushing Financial from a "hold" rating to a "sell" rating in a research report on Monday, July 8th. Piper Sandler downgraded Flushing Financial from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $15.00 to $16.50 in a research note on Tuesday, July 30th. Raymond James lifted their price target on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Flushing Financial from $13.00 to $15.00 and gave the stock a "market perform" rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $15.50.

Insider Activity at Flushing Financial

In other news, COO Maria A. Grasso sold 4,500 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total transaction of $60,705.00. Following the completion of the sale, the chief operating officer now directly owns 83,238 shares of the company's stock, valued at approximately $1,122,880.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.31% of the stock is owned by insiders.

Flushing Financial Price Performance

Shares of Flushing Financial stock traded up $0.14 during trading on Friday, hitting $14.09. The stock had a trading volume of 82,334 shares, compared to its average volume of 180,357. Flushing Financial Co. has a 12 month low of $10.74 and a 12 month high of $18.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. The firm has a market cap of $409.58 million, a price-to-earnings ratio of 14.09 and a beta of 0.76. The business's 50-day moving average is $13.93 and its 200 day moving average is $13.10.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The bank reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $117.45 million for the quarter, compared to analyst estimates of $46.96 million. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, sell-side analysts anticipate that Flushing Financial Co. will post 0.71 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Friday, September 6th. Flushing Financial's dividend payout ratio is presently 88.00%.

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.