Susquehanna International Group LLP Buys New Position in Flushing Financial Corporation (FFIC)
Susquehanna International Group LLP bought a new position in Flushing Financial Corporation (NASDAQ:FFIC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,501 shares of the bank’s stock, valued at approximately $522,000. Susquehanna International Group LLP owned about 0.06% of Flushing Financial Corporation at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of Flushing Financial Corporation by 277.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock worth $136,000 after acquiring an additional 3,553 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Flushing Financial Corporation in the first quarter worth about $133,000. Oxford Asset Management bought a new position in shares of Flushing Financial Corporation in the first quarter worth about $212,000. Karp Capital Management Corp bought a new position in shares of Flushing Financial Corporation in the first quarter worth about $251,000. Finally, Schroder Investment Management Group raised its stake in shares of Flushing Financial Corporation by 77.9% in the first quarter. Schroder Investment Management Group now owns 9,822 shares of the bank’s stock worth $267,000 after acquiring an additional 4,301 shares during the last quarter. 77.31% of the stock is owned by institutional investors.
Shares of Flushing Financial Corporation (FFIC) traded down 0.81% during trading on Friday, hitting $30.44. 41,069 shares of the company’s stock were exchanged. Flushing Financial Corporation has a 1-year low of $20.95 and a 1-year high of $31.96. The stock has a market cap of $886.87 million, a PE ratio of 17.72 and a beta of 1.11. The stock’s 50-day moving average price is $28.60 and its 200-day moving average price is $28.16.
Flushing Financial Corporation (NASDAQ:FFIC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $45.57 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.39 earnings per share. On average, equities analysts expect that Flushing Financial Corporation will post $1.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.37%. Flushing Financial Corporation’s dividend payout ratio (DPR) is currently 41.62%.
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A number of brokerages have weighed in on FFIC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 target price on shares of Flushing Financial Corporation in a research note on Sunday, October 8th. BidaskClub raised shares of Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $30.00 target price on shares of Flushing Financial Corporation in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $30.33.
In other news, Director Donna M. Obrien sold 3,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.33, for a total value of $81,990.00. Following the completion of the transaction, the director now owns 50,925 shares of the company’s stock, valued at $1,391,780.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.86% of the stock is currently owned by corporate 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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