Oberweis Asset Management Inc. bought a new position in shares of Flushing Financial Co. (NASDAQ:FFIC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 22,800 shares of the bank’s stock, valued at approximately $491,000. Oberweis Asset Management Inc. owned approximately 0.08% of Flushing Financial as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new stake in shares of Flushing Financial during the 4th quarter worth about $172,000. Citigroup Inc. boosted its stake in shares of Flushing Financial by 13.9% during the 4th quarter. Citigroup Inc. now owns 11,507 shares of the bank’s stock worth $247,000 after acquiring an additional 1,403 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Flushing Financial during the 3rd quarter worth about $293,000. MetLife Investment Advisors LLC boosted its stake in shares of Flushing Financial by 55.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 20,803 shares of the bank’s stock worth $508,000 after acquiring an additional 7,381 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in shares of Flushing Financial during the 3rd quarter worth about $514,000. 77.50% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on FFIC shares. Zacks Investment Research upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Monday, February 4th. BidaskClub upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, ValuEngine upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Flushing Financial presently has an average rating of “Hold” and an average target price of $28.38.
FFIC opened at $22.60 on Friday. Flushing Financial Co. has a twelve month low of $20.27 and a twelve month high of $28.72. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $637.03 million, a P/E ratio of 11.65, a P/E/G ratio of 1.92 and a beta of 0.88.
Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Thursday, January 31st. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.06. Flushing Financial had a net margin of 20.61% and a return on equity of 10.27%. The firm had revenue of $36.65 million during the quarter, compared to the consensus estimate of $44.20 million. On average, sell-side analysts expect that Flushing Financial Co. will post 1.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Thursday, March 14th. This is an increase from Flushing Financial’s previous quarterly dividend of $0.20. Flushing Financial’s dividend payout ratio is 41.24%.
In related news, COO Maria A. Grasso sold 8,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $23.34, for a total transaction of $186,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Francis W. Korzekwinski sold 6,615 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $23.25, for a total transaction of $153,798.75. Following the transaction, the insider now owns 70,166 shares of the company’s stock, valued at approximately $1,631,359.50. The disclosure for this sale can be found here. 5.01% of the stock is owned by corporate insiders.
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Flushing Financial 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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
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