Metropolitan Life Insurance Co. NY Continues to Hold Stake in Astoria Financial Corporation (AF)
Metropolitan Life Insurance Co. NY maintained its position in Astoria Financial Corporation (NYSE:AF) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,374 shares of the savings and loans company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY owned approximately 0.06% of Astoria Financial Corporation worth $1,320,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AF. Ameritas Investment Partners Inc. purchased a new position in Astoria Financial Corporation during the first quarter worth approximately $163,000. US Bancorp DE raised its position in Astoria Financial Corporation by 2.3% in the first quarter. US Bancorp DE now owns 9,703 shares of the savings and loans company’s stock worth $199,000 after buying an additional 222 shares during the period. State of Alaska Department of Revenue raised its position in Astoria Financial Corporation by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 10,100 shares of the savings and loans company’s stock worth $207,000 after buying an additional 230 shares during the period. Karp Capital Management Corp purchased a new position in Astoria Financial Corporation during the first quarter worth approximately $349,000. Finally, Russell Investments Group Ltd. purchased a new position in Astoria Financial Corporation during the fourth quarter worth approximately $387,000. Institutional investors own 86.89% of the company’s stock.
Shares of Astoria Financial Corporation (NYSE AF) traded down 0.16% during midday trading on Friday, reaching $19.07. 1,563,377 shares of the company’s stock traded hands. Astoria Financial Corporation has a one year low of $14.11 and a one year high of $21.66. The firm has a market capitalization of $1.92 billion, a PE ratio of 33.22 and a beta of 0.56. The stock’s 50-day moving average price is $19.90 and its 200 day moving average price is $19.77.
Astoria Financial Corporation (NYSE:AF) last posted its quarterly earnings results on Wednesday, July 26th. The savings and loans company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Astoria Financial Corporation had a return on equity of 4.21% and a net margin of 13.52%. The business had revenue of $90.38 million during the quarter, compared to the consensus estimate of $91.76 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities research analysts expect that Astoria Financial Corporation will post $0.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.16 annualized dividend and a yield of 0.84%. Astoria Financial Corporation’s payout ratio is 27.59%.
AF has been the subject of several research analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $17.00 target price on shares of Astoria Financial Corporation in a research report on Friday, June 16th. Keefe, Bruyette & Woods upgraded shares of Astoria Financial Corporation from a “market perform” rating to an “outperform” rating and set a $25.50 target price for the company in a research report on Thursday, April 27th. Finally, BidaskClub upgraded shares of Astoria Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.25.
In other news, VP Josie Callari sold 22,250 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $19.50, for a total transaction of $433,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gerard C. Keegan sold 30,600 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $19.25, for a total value of $589,050.00. Following the transaction, the director now owns 197,814 shares of the company’s stock, valued at $3,807,919.50. The disclosure for this sale can be found here. Insiders sold a total of 435,902 shares of company stock valued at $8,613,709 over the last 90 days. 9.76% of the stock is currently owned by corporate insiders.
About Astoria Financial Corporation
Astoria Financial Corporation is a unitary savings and loan holding company. The Company’s principal business is the operation of its subsidiary, Astoria Bank. Astoria Bank’s primary business is attracting retail deposits from the general public and businesses and investing those deposits, together with funds generated from operations, principal repayments on loans and securities and borrowings, primarily in multi-family and commercial real estate mortgage loans, one- to four-family, or residential, mortgage loans and mortgage-backed securities.
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