76,846 Shares in Flushing Financial Co. (NASDAQ:FFIC) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new stake in Flushing Financial Co. (NASDAQ:FFIC) during the fourth quarter, HoldingsChannel reports. The firm acquired 76,846 shares of the bank’s stock, valued at approximately $1,097,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FFIC. Charles Schwab Investment Management Inc. increased its position in 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 acquiring an additional 4,876 shares during the period. FMR LLC lifted its position 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 acquiring an additional 2,836 shares during the period. BNP Paribas Financial Markets increased its holdings 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 valued at $287,000 after purchasing an additional 3,100 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Flushing Financial during the third quarter worth approximately $171,000. Finally, Jane Street Group LLC raised its stake in shares of Flushing Financial by 14.5% during the third quarter. Jane Street Group LLC now owns 58,821 shares of the bank’s stock worth $858,000 after purchasing an additional 7,467 shares during the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, March 25th.

Flushing Financial Stock Performance

NASDAQ FFIC opened at $11.10 on Wednesday. The stock has a market capitalization of $374.92 million, a price-to-earnings ratio of -10.99 and a beta of 0.67. The business’s 50 day moving average is $13.54 and its two-hundred day moving average is $14.83. Flushing Financial Co. has a 12-month low of $10.65 and a 12-month high of $18.59. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data 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%. Research analysts expect that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date was Friday, March 14th. Flushing Financial’s dividend payout ratio is currently -87.13%.

Insiders Place Their Bets

In related news, EVP Thomas Buonaiuto sold 6,800 shares of Flushing Financial 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 of the company’s stock, valued at approximately $417,781.12. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 6.31% of the stock is currently owned by company insiders.

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.