Balyasny Asset Management L.P. Buys 69,821 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Balyasny Asset Management L.P. raised its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 329.9% during the 4th quarter, Holdings Channel reports. The fund owned 90,988 shares of the bank’s stock after purchasing an additional 69,821 shares during the period. Balyasny Asset Management L.P.’s holdings in Flushing Financial were worth $1,299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new stake in Flushing Financial during the 4th quarter valued at $28,000. US Bancorp DE lifted its holdings in shares of Flushing Financial by 496.0% during the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock valued at $53,000 after purchasing an additional 3,100 shares during the last quarter. Quarry LP purchased a new stake in shares of Flushing Financial during the 4th quarter valued at $73,000. New York State Common Retirement Fund lifted its holdings in shares of Flushing Financial by 27.8% during the 4th quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock valued at $92,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Flushing Financial during the 4th quarter valued at $141,000. Institutional investors own 67.10% of the company’s stock.

Insiders Place Their Bets

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the sale, the executive vice president now directly owns 32,336 shares of the company’s stock, valued at approximately $417,781.12. This trade represents a 17.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.31% of the stock is owned by insiders.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $13.17 on Wednesday. The business has a fifty day moving average of $12.36 and a 200 day moving average of $14.37. The firm has a market capitalization of $444.84 million, a price-to-earnings ratio of -13.04 and a beta of 0.81. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. Flushing Financial Co. has a 1 year low of $10.65 and a 1 year high of $18.59.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.23 earnings per share 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 positive return on equity of 3.25% and a negative net margin of 6.46%. As a group, research analysts expect that Flushing Financial Co. will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend was Friday, March 14th. Flushing Financial’s dividend payout ratio is currently -61.97%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 8th.

Flushing Financial Company 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.