Teton Advisors Inc. Continues to Hold Stake in Flushing Financial Corporation (FFIC)
Teton Advisors Inc. maintained its position in Flushing Financial Corporation (NASDAQ:FFIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 599,970 shares of the bank’s stock at the end of the second quarter. Flushing Financial Corporation accounts for about 1.7% of Teton Advisors Inc.’s holdings, making the stock its 3rd largest position. Teton Advisors Inc.’s holdings in Flushing Financial Corporation were worth $16,913,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Flushing Financial Corporation during the fourth quarter valued at approximately $10,501,000. Frontier Capital Management Co. LLC increased its position in Flushing Financial Corporation by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 2,414,907 shares of the bank’s stock valued at $64,889,000 after buying an additional 71,447 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Flushing Financial Corporation by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,237,747 shares of the bank’s stock valued at $60,129,000 after buying an additional 55,447 shares during the last quarter. Vanguard Group Inc. increased its position in Flushing Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,323,206 shares of the bank’s stock valued at $35,554,000 after buying an additional 44,975 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in Flushing Financial Corporation during the second quarter valued at approximately $767,000. 76.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Flushing Financial Corporation (NASDAQ:FFIC) traded up 0.95% during midday trading on Wednesday, hitting $27.58. The stock had a trading volume of 1,064 shares. The firm has a market capitalization of $803.54 million, a PE ratio of 16.05 and a beta of 1.11. Flushing Financial Corporation has a 1-year low of $20.95 and a 1-year high of $31.96. The company’s 50 day moving average price is $28.29 and its 200-day moving average price is $27.96.
Flushing Financial Corporation (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $46.79 million. Flushing Financial Corporation had a net margin of 19.96% and a return on equity of 9.23%. During the same period in the previous year, the business earned $0.39 EPS. Equities analysts predict that Flushing Financial Corporation will post $1.74 earnings per share for the current year.
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Several equities analysts have commented on FFIC shares. Piper Jaffray Companies reissued a “hold” rating and set a $28.00 target price on shares of Flushing Financial Corporation in a research report on Friday, July 14th. Sandler O’Neill raised Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price target on shares of Flushing Financial Corporation in a research report on Tuesday, May 2nd. Zacks Investment Research raised Flushing Financial Corporation from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research report on Monday, May 1st. Finally, BidaskClub downgraded Flushing Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Flushing Financial Corporation has a consensus rating of “Hold” and a consensus target price of $29.00.
In other news, COO Maria A. Grasso sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $26.77, for a total transaction of $107,080.00. Following the transaction, the chief operating officer now directly owns 74,223 shares in the company, valued at approximately $1,986,949.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.86% of the stock is owned by insiders.
About Flushing Financial Corporation
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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