Flushing Financial Co. (NASDAQ:FFIC) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC decreased its stake in Flushing Financial Co. (NASDAQ:FFIC) by 38.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,341 shares of the bank’s stock after selling 6,578 shares during the period. Magnetar Financial LLC’s holdings in Flushing Financial were worth $148,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Patriot Financial Partners GP LP purchased a new position in Flushing Financial in the 4th quarter worth approximately $6,783,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Flushing Financial in the fourth quarter valued at $278,000. Dana Investment Advisors Inc. grew its holdings in Flushing Financial by 5.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 426,060 shares of the bank’s stock valued at $6,084,000 after purchasing an additional 20,558 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Flushing Financial during the 4th quarter worth $249,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Flushing Financial by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 234,974 shares of the bank’s stock worth $3,355,000 after buying an additional 1,738 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a research note on Monday, March 17th.

Flushing Financial Stock Performance

Shares of Flushing Financial stock opened at $12.96 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s 50-day simple moving average is $14.15 and its 200-day simple moving average is $15.00. Flushing Financial Co. has a 1 year low of $10.74 and a 1 year high of $18.59. The firm has a market cap of $437.75 million, a PE ratio of -12.83 and a beta of 0.79.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. Equities analysts forecast that Flushing Financial Co. will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Friday, March 14th. Flushing Financial’s dividend payout ratio (DPR) is presently -87.13%.

Insider Transactions at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction 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 directly owns 32,336 shares in the company, valued at $417,781.12. This represents a 17.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.