106,500 Shares in Flushing Financial Corporation $FFIC Bought by Teton Advisors LLC

Teton Advisors LLC bought a new stake in Flushing Financial Corporation (NASDAQ:FFIC) during the third quarter, HoldingsChannel reports. The fund bought 106,500 shares of the bank’s stock, valued at approximately $1,471,000.

A number of other large investors have also added to or reduced their stakes in FFIC. Geode Capital Management LLC lifted its stake in Flushing Financial by 2.4% during the second quarter. Geode Capital Management LLC now owns 813,159 shares of the bank’s stock worth $9,662,000 after purchasing an additional 18,829 shares during the last quarter. Patriot Financial Partners GP LP boosted its holdings in shares of Flushing Financial by 17.4% in the 2nd quarter. Patriot Financial Partners GP LP now owns 675,000 shares of the bank’s stock worth $8,019,000 after purchasing an additional 100,000 shares in the last quarter. Invesco Ltd. increased its position in shares of Flushing Financial by 10.3% during the 2nd quarter. Invesco Ltd. now owns 597,467 shares of the bank’s stock valued at $7,098,000 after purchasing an additional 55,563 shares during the last quarter. Millennium Management LLC increased its position in shares of Flushing Financial by 104.3% during the 1st quarter. Millennium Management LLC now owns 523,080 shares of the bank’s stock valued at $6,643,000 after purchasing an additional 267,013 shares during the last quarter. Finally, CSM Advisors LLC purchased a new position in shares of Flushing Financial during the 2nd quarter valued at about $4,080,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Flushing Financial Trading Down 1.7%

Shares of FFIC stock opened at $15.39 on Friday. The business has a 50-day moving average of $15.85 and a 200 day moving average of $15.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. Flushing Financial Corporation has a 1-year low of $10.65 and a 1-year high of $17.79. The stock has a market capitalization of $521.41 million, a PE ratio of 28.50 and a beta of 0.82.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Flushing Financial had a return on equity of 5.96% and a net margin of 3.86%.The company had revenue of $58.81 million during the quarter, compared to analysts’ expectations of $62.27 million. As a group, sell-side analysts anticipate that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, March 13th. Flushing Financial’s payout ratio is presently 162.96%.

Analysts Set New Price Targets

A number of analysts recently weighed in on FFIC shares. Raymond James Financial downgraded Flushing Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Zacks Research cut shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Flushing Financial in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Flushing Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Flushing Financial presently has a consensus rating of “Reduce” and an average price target of $16.80.

Insider Activity at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 1,570 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $16.20, for a total transaction of $25,434.00. Following the completion of the sale, the executive vice president directly owned 35,469 shares in the company, valued at $574,597.80. This represents a 4.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.66% of the stock is currently owned by insiders.

Flushing Financial Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.