475,000 Shares in Flushing Financial Co. (NASDAQ:FFIC) Bought by Patriot Financial Partners GP LP

Patriot Financial Partners GP LP bought a new position in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 475,000 shares of the bank's stock, valued at approximately $6,783,000. Flushing Financial accounts for about 2.2% of Patriot Financial Partners GP LP's investment portfolio, making the stock its 9th biggest position. Patriot Financial Partners GP LP owned 1.41% of Flushing Financial at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FFIC. Empowered Funds LLC lifted its holdings in shares of Flushing Financial by 5.4% in the third quarter. Empowered Funds LLC now owns 92,312 shares of the bank's stock valued at $1,346,000 after purchasing an additional 4,690 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Flushing Financial by 123.5% in the third quarter. Quest Partners LLC now owns 27,383 shares of the bank's stock valued at $399,000 after purchasing an additional 15,129 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Flushing Financial by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank's stock worth $3,401,000 after buying an additional 4,876 shares during the last quarter. FMR LLC boosted its stake in shares of Flushing Financial by 64.1% in the 3rd quarter. FMR LLC now owns 7,259 shares of the bank's stock worth $106,000 after buying an additional 2,836 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Flushing Financial by 18.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,661 shares of the bank's stock worth $287,000 after buying an additional 3,100 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Flushing Financial Stock Performance

Shares of Flushing Financial stock traded up $0.05 on Wednesday, reaching $13.23. 277,022 shares of the company traded hands, compared to its average volume of 215,510. Flushing Financial Co. has a 52 week low of $10.74 and a 52 week high of $18.59. The company has a 50 day moving average of $14.23 and a 200 day moving average of $15.02. The firm has a market capitalization of $446.87 million, a PE ratio of -13.10 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.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last released its earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates 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%. Equities analysts forecast that Flushing Financial Co. will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.22 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 6.65%. Flushing Financial's payout ratio is -87.13%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Flushing Financial from a "sell" rating to a "hold" rating in a research note on Monday.

Insider Transactions at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 6,800 shares of Flushing Financial stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.31% of the company's stock.

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.