State Street Corp Lowers Stake in Flushing Financial Co. (NASDAQ:FFIC)

State Street Corp trimmed its position in Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 845,410 shares of the bank's stock after selling 36,141 shares during the quarter. State Street Corp owned 2.91% of Flushing Financial worth $12,326,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Flushing Financial by 4,000.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank's stock valued at $30,000 after acquiring an additional 2,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flushing Financial in the second quarter valued at $61,000. FMR LLC raised its holdings in shares of Flushing Financial by 64.1% during the third quarter. FMR LLC now owns 7,259 shares of the bank's stock valued at $106,000 after purchasing an additional 2,836 shares during the period. Perritt Capital Management Inc acquired a new position in shares of Flushing Financial during the second quarter valued at about $132,000. Finally, Princeton Capital Management LLC acquired a new position in shares of Flushing Financial during the second quarter valued at about $145,000. 67.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Flushing Financial from a "sell" rating to a "hold" rating in a report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $15.50.

Insider Buying and Selling

In other news, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the transaction, the chief accounting officer now directly owns 34,853 shares of the company's stock, valued at $564,270.07. This represents a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sam Sang Ki Han sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $15.47, for a total transaction of $154,700.00. Following the transaction, the director now directly owns 67,251 shares of the company's stock, valued at $1,040,372.97. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by company insiders.

Flushing Financial Stock Down 0.3 %

Shares of NASDAQ FFIC traded down $0.05 during trading on Thursday, hitting $14.45. 246,755 shares of the company traded hands, compared to its average volume of 202,761. The business's fifty day moving average is $16.42 and its 200 day moving average is $14.72. Flushing Financial Co. has a fifty-two week low of $10.74 and a fifty-two week high of $18.59. The firm has a market capitalization of $486.37 million, a price-to-earnings ratio of 16.61 and a beta of 0.78. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.09%. Flushing Financial's dividend payout ratio is presently 101.15%.

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.