Fourthstone LLC Takes $510,000 Position in Flushing Financial Co. (NASDAQ:FFIC)

Fourthstone LLC purchased a new position in shares of Flushing Financial Co. (NASDAQ:FFIC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,000 shares of the bank’s stock, valued at approximately $510,000. Fourthstone LLC owned approximately 0.12% of Flushing Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of Flushing Financial by 18.7% in the third quarter. BNP Paribas Financial Markets now owns 19,661 shares of the bank’s stock worth $287,000 after acquiring an additional 3,100 shares in the last quarter. FMR LLC increased its holdings in Flushing Financial by 64.1% during the 3rd quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after purchasing an additional 2,836 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Flushing Financial by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank’s stock valued at $3,401,000 after purchasing an additional 4,876 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Flushing Financial by 123.5% during the 3rd quarter. Quest Partners LLC now owns 27,383 shares of the bank’s stock valued at $399,000 after buying an additional 15,129 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Flushing Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 92,312 shares of the bank’s stock worth $1,346,000 after buying an additional 4,690 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FFIC. StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their price target on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Raymond James lifted their price objective on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.50.

Flushing Financial Price Performance

FFIC stock traded down $0.10 on Thursday, hitting $17.77. 95,202 shares of the company’s stock traded hands, compared to its average volume of 179,367. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The stock has a market cap of $516.57 million, a price-to-earnings ratio of 20.43 and a beta of 0.75. Flushing Financial Co. has a 1-year low of $10.74 and a 1-year high of $18.59. The stock has a fifty day moving average of $15.69 and a 200-day moving average of $14.24.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Friday, December 6th. Flushing Financial’s dividend payout ratio is 101.15%.

Insiders Place Their Bets

In other Flushing Financial news, Director Sam Sang Ki Han sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now owns 67,251 shares in the company, valued at approximately $1,040,372.97. This represents a 12.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the sale, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.31% of the company’s stock.

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.