ClariVest Asset Management LLC reduced its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 23.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the bank’s stock after selling 7,800 shares during the period. ClariVest Asset Management LLC’s holdings in Flushing Financial were worth $552,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its holdings in Flushing Financial by 222.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,657 shares of the bank’s stock worth $124,000 after purchasing an additional 3,902 shares in the last quarter. SG Americas Securities LLC bought a new stake in Flushing Financial in the first quarter worth $164,000. O Shaughnessy Asset Management LLC bought a new stake in Flushing Financial in the fourth quarter worth $172,000. Metropolitan Life Insurance Co. NY boosted its holdings in Flushing Financial by 344.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,526 shares of the bank’s stock worth $205,000 after purchasing an additional 7,381 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Flushing Financial by 9.7% in the fourth quarter. Legal & General Group Plc now owns 9,740 shares of the bank’s stock worth $210,000 after purchasing an additional 858 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.
Shares of NASDAQ:FFIC opened at $21.00 on Friday. The firm has a market capitalization of $591.93 million, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 3.03 and a beta of 0.87. Flushing Financial Co. has a 1 year low of $20.27 and a 1 year high of $27.91. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.11 and a quick ratio of 1.11.
Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, April 30th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.06). Flushing Financial had a net margin of 18.51% and a return on equity of 9.93%. The firm had revenue of $42.75 million for the quarter, compared to the consensus estimate of $43.70 million. As a group, equities analysts anticipate that Flushing Financial Co. will post 1.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, June 13th. Flushing Financial’s dividend payout ratio (DPR) is 43.30%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Tuesday, February 19th. ValuEngine cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Friday, March 1st. BidaskClub cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Monday, February 18th. Finally, Gabelli reiterated a “buy” rating on shares of Flushing Financial in a report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.50.
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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, demand accounts, NOW accounts, and certificates of deposit.
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