10,000 Shares in Flushing Financial Co. (NASDAQ:FFIC) Bought by Fortress Investment Group LLC

Fortress Investment Group LLC bought a new stake in shares of Flushing Financial Co. (NASDAQ:FFIC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 10,000 shares of the bank’s stock, valued at approximately $143,000. Flushing Financial accounts for about 0.0% of Fortress Investment Group LLC’s portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd raised its stake in Flushing Financial by 15.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank’s stock valued at $239,000 after purchasing an additional 2,219 shares during the period. Barclays PLC lifted its stake in Flushing Financial by 56.8% in the 3rd quarter. Barclays PLC now owns 51,833 shares of the bank’s stock worth $756,000 after acquiring an additional 18,773 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Flushing Financial during the 4th quarter worth about $450,000. New York State Common Retirement Fund grew its stake in Flushing Financial by 27.8% during the 4th quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock valued at $92,000 after acquiring an additional 1,400 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Flushing Financial by 156.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 31,977 shares of the bank’s stock valued at $466,000 after purchasing an additional 19,517 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Price Performance

FFIC opened at $12.77 on Friday. The stock has a fifty day moving average price of $12.37 and a 200 day moving average price of $14.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. Flushing Financial Co. has a 1 year low of $10.65 and a 1 year high of $18.59. The stock has a market cap of $431.33 million, a price-to-earnings ratio of -12.64 and a beta of 0.81.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. The business had revenue of $58.10 million during the quarter, compared to analyst estimates of $55.38 million. Analysts forecast that Flushing Financial Co. will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.89%. Flushing Financial’s dividend payout ratio is currently -61.97%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Thursday.

Insider Activity at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the transaction, the executive vice president now directly owns 32,336 shares in the company, valued at $417,781.12. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.31% of the stock is owned by company 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.