Verition Fund Management LLC Purchases Shares of 338,551 Flushing Financial Co. (NASDAQ:FFIC)

Verition Fund Management LLC bought a new stake in Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 338,551 shares of the bank's stock, valued at approximately $4,936,000. Verition Fund Management LLC owned about 1.16% of Flushing Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Flushing Financial by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank's stock valued at $20,295,000 after acquiring an additional 5,933 shares during the last quarter. Dana Investment Advisors Inc. increased its position in shares of Flushing Financial by 11.5% during the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank's stock worth $5,960,000 after buying an additional 46,800 shares during the period. American Century Companies Inc. grew its holdings in Flushing Financial by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 452,209 shares of the bank's stock worth $5,947,000 after acquiring an additional 62,659 shares during the period. Acadian Asset Management LLC increased its stake in Flushing Financial by 38.1% in the second quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank's stock valued at $4,874,000 after purchasing an additional 102,219 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Flushing Financial by 4.7% during the 2nd quarter. Renaissance Technologies LLC now owns 334,900 shares of the bank's stock valued at $4,404,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company's stock.

Insider Buying and Selling

In other Flushing Financial news, Director Sam Sang Ki Han sold 10,000 shares of the business's stock in a transaction 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 approximately $1,040,372.97. The trade was a 12.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Astrid Burrowes sold 8,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the sale, the chief accounting officer now owns 34,853 shares of the company's stock, valued at $564,270.07. This trade represents a 18.67 % 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 corporate insiders.

Flushing Financial Price Performance

FFIC traded down $0.33 on Tuesday, reaching $17.54. The company had a trading volume of 81,907 shares, compared to its average volume of 178,195. 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 Co. has a 52-week low of $10.74 and a 52-week high of $18.59. The company has a market cap of $509.89 million, a price-to-earnings ratio of 20.16 and a beta of 0.78. The business has a 50 day simple moving average of $15.93 and a 200 day simple moving average of $14.38.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Friday, December 6th. Flushing Financial's dividend payout ratio (DPR) is currently 101.15%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Flushing Financial from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.50.

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.