Alyeska Investment Group L.P. Acquires Shares of 221,370 Flushing Financial Co. (NASDAQ:FFIC)

Alyeska Investment Group L.P. purchased a new stake in shares of Flushing Financial Co. (NASDAQ:FFIC) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 221,370 shares of the bank’s stock, valued at approximately $3,161,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FFIC. R Squared Ltd bought a new stake in Flushing Financial during the fourth quarter worth about $28,000. US Bancorp DE grew its stake in shares of Flushing Financial by 496.0% in the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock worth $53,000 after buying an additional 3,100 shares during the last quarter. Quarry LP purchased a new position in Flushing Financial during the fourth quarter valued at $73,000. New York State Common Retirement Fund boosted its holdings in Flushing Financial by 27.8% in the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock worth $92,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Flushing Financial during the fourth quarter valued at $141,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th.

Flushing Financial Price Performance

Shares of FFIC opened at $12.66 on Wednesday. The firm has a market cap of $427.62 million, a PE ratio of -12.53 and a beta of 0.81. Flushing Financial Co. has a 1-year low of $10.65 and a 1-year high of $18.59. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The firm has a fifty day simple moving average of $12.45 and a two-hundred day simple moving average of $14.45.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Tuesday, April 29th. The bank reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. The business had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $55.38 million. On average, equities analysts anticipate that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.22 per share. The ex-dividend date was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.95%. Flushing Financial’s payout ratio is currently -61.97%.

Insider Activity at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the completion of the transaction, the executive vice president now directly owns 32,336 shares in the company, valued at $417,781.12. This represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.31% of the stock is currently owned by corporate insiders.

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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.