Prudential Financial Inc. Boosts Position in Flushing Financial Co. (NASDAQ:FFIC)

Prudential Financial Inc. grew its holdings in Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 431,946 shares of the bank's stock after buying an additional 57,900 shares during the quarter. Prudential Financial Inc. owned about 1.28% of Flushing Financial worth $6,168,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FFIC. Vanguard Group Inc. lifted its holdings in Flushing Financial by 14.1% in the fourth quarter. Vanguard Group Inc. now owns 1,734,753 shares of the bank's stock valued at $24,772,000 after acquiring an additional 214,195 shares during the period. American Century Companies Inc. lifted its stake in shares of Flushing Financial by 23.3% in the fourth quarter. American Century Companies Inc. now owns 617,687 shares of the bank's stock valued at $8,821,000 after purchasing an additional 116,819 shares during the period. Quantbot Technologies LP purchased a new stake in Flushing Financial during the fourth quarter worth about $141,000. Semanteon Capital Management LP acquired a new position in Flushing Financial during the fourth quarter worth about $272,000. Finally, Patriot Financial Partners GP LP purchased a new position in Flushing Financial in the fourth quarter valued at about $6,783,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Thomas Buonaiuto sold 6,800 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction 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 represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.31% of the stock is owned by corporate insiders.

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Flushing Financial Price Performance

Shares of Flushing Financial stock traded down $0.36 during trading on Friday, hitting $11.30. 506,743 shares of the company were exchanged, compared to its average volume of 237,212. The firm has a 50 day moving average price of $13.74 and a 200 day moving average price of $14.91. The stock has a market capitalization of $381.68 million, a price-to-earnings ratio of -11.19 and a beta of 0.67. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. 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 posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 EPS 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%. On average, equities analysts expect that Flushing Financial Co. will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 7.79%. Flushing Financial's dividend payout ratio (DPR) is currently -87.13%.

Analysts Set New Price Targets

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

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.