Alyeska Investment Group L.P. Takes $3.16 Million Position in Flushing Financial Co. (NASDAQ:FFIC)

Alyeska Investment Group L.P. acquired a new stake in Flushing Financial Co. (NASDAQ:FFIC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 221,370 shares of the bank’s stock, valued at approximately $3,161,000. Alyeska Investment Group L.P. owned 0.66% of Flushing Financial at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Flushing Financial by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,755,762 shares of the bank’s stock valued at $25,072,000 after purchasing an additional 36,845 shares during the period. Vanguard Group Inc. raised its stake in Flushing Financial by 14.1% in the fourth quarter. Vanguard Group Inc. now owns 1,734,753 shares of the bank’s stock valued at $24,772,000 after purchasing an additional 214,195 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Flushing Financial by 153.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 825,708 shares of the bank’s stock valued at $11,791,000 after buying an additional 499,821 shares in the last quarter. American Century Companies Inc. raised its position in Flushing Financial by 23.3% during the fourth quarter. American Century Companies Inc. now owns 617,687 shares of the bank’s stock valued at $8,821,000 after purchasing an additional 116,819 shares in the last quarter. Finally, Patriot Financial Partners GP LP bought a new position in shares of Flushing Financial during the 4th quarter valued at about $6,783,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Flushing Financial Stock Performance

NASDAQ FFIC opened at $12.66 on Wednesday. The company has a 50-day simple moving average of $12.45 and a two-hundred day simple moving average of $14.45. Flushing Financial Co. has a 12-month low of $10.65 and a 12-month high of $18.59. The firm has a market cap of $427.62 million, a price-to-earnings ratio of -12.53 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, April 29th. The bank reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $58.10 million for the quarter, compared to the consensus estimate of $55.38 million. Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. On average, equities analysts forecast that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 6.95%. Flushing Financial’s dividend payout ratio is presently -61.97%.

Insider Buying and Selling at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the completion of the transaction, the executive vice president now owns 32,336 shares in the company, valued at $417,781.12. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th.

Flushing Financial Profile

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.