Flushing Financial Corporation $FFIC Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd cut its stake in Flushing Financial Corporation (NASDAQ:FFIC) by 61.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,423 shares of the bank’s stock after selling 70,172 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.13% of Flushing Financial worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of Flushing Financial by 5.1% in the 2nd quarter. First Trust Advisors LP now owns 21,621 shares of the bank’s stock valued at $257,000 after purchasing an additional 1,049 shares during the period. Royal Bank of Canada raised its position in shares of Flushing Financial by 9.1% in the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank’s stock worth $222,000 after acquiring an additional 1,453 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Flushing Financial by 75.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after acquiring an additional 1,650 shares in the last quarter. Bank of America Corp DE grew its position in shares of Flushing Financial by 1.7% during the 2nd quarter. Bank of America Corp DE now owns 119,722 shares of the bank’s stock valued at $1,422,000 after acquiring an additional 2,021 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Flushing Financial by 37.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock valued at $96,000 after acquiring an additional 2,194 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 1,570 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the transaction, the executive vice president owned 35,469 shares of the company’s stock, valued at $574,597.80. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.66% of the company’s stock.

Analyst Ratings Changes

FFIC has been the subject of several research reports. Wall Street Zen cut Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Keefe, Bruyette & Woods upped their target price on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Raymond James Financial cut shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Flushing Financial in a research note on Monday, December 29th. Finally, Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $16.80.

Flushing Financial Stock Performance

Flushing Financial stock opened at $16.61 on Wednesday. The firm has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $14.49. The stock has a market cap of $561.09 million, a price-to-earnings ratio of 30.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. Flushing Financial Corporation has a 1-year low of $10.65 and a 1-year high of $17.79.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $58.81 million for the quarter, compared to analysts’ expectations of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.96%. On average, analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, December 5th. Flushing Financial’s dividend payout ratio (DPR) is presently 162.96%.

Flushing Financial Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.