Flushing Financial Corporation $FFIC Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its position in Flushing Financial Corporation (NASDAQ:FFIC) by 1.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 453,793 shares of the bank’s stock after selling 6,789 shares during the period. Acadian Asset Management LLC owned 1.34% of Flushing Financial worth $5,762,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Flushing Financial by 9.3% in the first quarter. Vanguard Group Inc. now owns 1,895,886 shares of the bank’s stock worth $24,078,000 after purchasing an additional 161,133 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Flushing Financial by 26.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 839,438 shares of the bank’s stock valued at $10,661,000 after acquiring an additional 174,970 shares during the period. Patriot Financial Partners GP LP boosted its stake in Flushing Financial by 21.1% in the first quarter. Patriot Financial Partners GP LP now owns 575,000 shares of the bank’s stock valued at $7,302,000 after acquiring an additional 100,000 shares during the period. Invesco Ltd. boosted its stake in Flushing Financial by 57.7% in the first quarter. Invesco Ltd. now owns 541,904 shares of the bank’s stock valued at $6,882,000 after acquiring an additional 198,233 shares during the period. Finally, Millennium Management LLC boosted its stake in Flushing Financial by 104.3% in the first quarter. Millennium Management LLC now owns 523,080 shares of the bank’s stock valued at $6,643,000 after acquiring an additional 267,013 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Flushing Financial Stock Down 0.2%

FFIC opened at $14.10 on Friday. Flushing Financial Corporation has a 12 month low of $10.65 and a 12 month high of $18.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $476.27 million, a P/E ratio of -11.85 and a beta of 0.83. The stock’s 50 day moving average price is $12.82 and its 200 day moving average price is $12.52.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Thursday, July 24th. The bank reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%.The firm had revenue of $58.92 million for the quarter, compared to analysts’ expectations of $60.13 million. As a group, research analysts predict that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.88 annualized dividend and a dividend yield of 6.2%. Flushing Financial’s dividend payout ratio is currently -73.95%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Flushing Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

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.