Quest Partners LLC Cuts Stock Holdings in Flushing Financial Co. (NASDAQ:FFIC)

Quest Partners LLC cut its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 6.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,254 shares of the bank’s stock after selling 872 shares during the period. Quest Partners LLC’s holdings in Flushing Financial were worth $161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FFIC. Vanguard Group Inc. boosted its position in Flushing Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank’s stock valued at $20,295,000 after acquiring an additional 5,933 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Flushing Financial by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 1,209,250 shares of the bank’s stock valued at $15,249,000 after purchasing an additional 11,285 shares in the last quarter. Acadian Asset Management LLC grew its stake in Flushing Financial by 38.1% in the second quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank’s stock valued at $4,874,000 after purchasing an additional 102,219 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Flushing Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock worth $2,736,000 after purchasing an additional 3,984 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Flushing Financial by 41.0% during the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock valued at $2,121,000 after buying an additional 46,871 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors.

Flushing Financial Trading Up 4.5 %

NASDAQ FFIC opened at $14.14 on Monday. The stock has a market cap of $411.04 million, a P/E ratio of 14.14 and a beta of 0.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial Co. has a 12-month low of $10.74 and a 12-month high of $18.00. The company has a fifty day simple moving average of $14.08 and a two-hundred day simple moving average of $12.91.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same quarter in the previous year, the firm posted $0.26 EPS. On average, analysts forecast that Flushing Financial Co. will post 0.71 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Friday, September 6th. Flushing Financial’s dividend payout ratio (DPR) is currently 88.00%.

Insider Transactions at Flushing Financial

In other news, COO Maria A. Grasso sold 4,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total value of $60,705.00. Following the sale, the chief operating officer now owns 83,238 shares in the company, valued at $1,122,880.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.31% of the company’s stock.

Wall Street Analyst Weigh In

FFIC has been the topic of a number of analyst reports. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $15.00 to $16.50 in a research report on Tuesday, July 30th. StockNews.com downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Raymond James raised their price objective on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Flushing Financial currently has an average rating of “Hold” and a consensus price target of $15.50.

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.