Acadian Asset Management LLC Decreases Stock Position in Flushing Financial Corporation $FFIC

Acadian Asset Management LLC cut its stake in Flushing Financial Corporation (NASDAQ:FFIC) by 35.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 291,979 shares of the bank’s stock after selling 161,814 shares during the quarter. Acadian Asset Management LLC owned about 0.86% of Flushing Financial worth $3,467,000 as of its most recent SEC filing.

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

Flushing Financial Stock Performance

Flushing Financial stock opened at $15.34 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $518.15 million, a PE ratio of -12.89 and a beta of 0.87. The company has a 50 day moving average price of $13.89 and a 200-day moving average price of $12.96. Flushing Financial Corporation has a fifty-two week low of $10.65 and a fifty-two week high of $18.59.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, February 15th. The bank reported $0.58 EPS for the quarter. The company had revenue of $54.81 million for the quarter. Flushing Financial had a positive return on equity of 4.98% and a negative net margin of 6.93%. As a group, equities analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently disclosed 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 5.7%. Flushing Financial’s dividend payout ratio is -73.95%.

Analyst Ratings Changes

Several research analysts have issued reports on FFIC shares. Wall Street Zen lowered Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Flushing Financial in a research note on Tuesday. Finally, Zacks Research upgraded Flushing Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.