Janney Montgomery Scott LLC Buys 27,096 Shares of Flushing Financial Corporation $FFIC

Janney Montgomery Scott LLC increased its stake in Flushing Financial Corporation (NASDAQ:FFIC) by 202.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,512 shares of the bank’s stock after purchasing an additional 27,096 shares during the period. Janney Montgomery Scott LLC owned approximately 0.12% of Flushing Financial worth $481,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Flushing Financial by 26.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 839,438 shares of the bank’s stock worth $10,661,000 after purchasing an additional 174,970 shares during the last quarter. Patriot Financial Partners GP LP increased its position in shares of Flushing Financial by 21.1% in the first quarter. Patriot Financial Partners GP LP now owns 575,000 shares of the bank’s stock worth $7,302,000 after purchasing an additional 100,000 shares during the last quarter. Invesco Ltd. grew its position in Flushing Financial by 57.7% during 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 last quarter. Finally, Millennium Management LLC raised its stake in shares of Flushing Financial by 104.3% during the first quarter. Millennium Management LLC now owns 523,080 shares of the bank’s stock worth $6,643,000 after acquiring an additional 267,013 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FFIC has been the topic of several research reports. Zacks Research raised shares of Flushing Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Flushing Financial in a research note on Tuesday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $12.56 on Friday. The stock has a fifty day moving average of $13.56 and a 200 day moving average of $12.61. Flushing Financial Corporation has a 52 week low of $10.65 and a 52 week high of $18.59. The firm has a market capitalization of $424.28 million, a price-to-earnings ratio of -10.55 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, February 15th. The bank reported $0.58 EPS for the quarter. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%.The company had revenue of $54.81 million during the quarter. As a group, research analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a yield of 7.0%. Flushing Financial’s dividend payout ratio (DPR) is presently -73.95%.

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.