Cwm LLC Purchases 7,559 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Cwm LLC boosted its position in shares of Flushing Financial Co. (NASDAQ:FFIC) by 136.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,093 shares of the bank’s stock after buying an additional 7,559 shares during the period. Cwm LLC’s holdings in Flushing Financial were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FFIC. Allspring Global Investments Holdings LLC bought a new position in Flushing Financial during the first quarter valued at approximately $32,000. BNP Paribas Financial Markets boosted its stake in Flushing Financial by 58.7% during the first quarter. BNP Paribas Financial Markets now owns 36,853 shares of the bank’s stock valued at $465,000 after buying an additional 13,636 shares during the last quarter. Empowered Funds LLC boosted its stake in Flushing Financial by 183.4% during the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock valued at $1,025,000 after buying an additional 52,627 shares during the last quarter. Swiss National Bank boosted its stake in Flushing Financial by 5.4% during the first quarter. Swiss National Bank now owns 54,223 shares of the bank’s stock valued at $684,000 after buying an additional 2,800 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Flushing Financial in the 1st quarter valued at approximately $264,000. 67.10% of the stock is owned by institutional investors.

Flushing Financial Price Performance

Shares of FFIC stock opened at $15.03 on Thursday. Flushing Financial Co. has a 52-week low of $10.74 and a 52-week high of $18.00. The stock has a 50 day moving average price of $14.27 and a 200 day moving average price of $13.34. The firm has a market capitalization of $436.91 million, a P/E ratio of 15.03 and a beta of 0.76. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.01 and a current ratio of 1.01.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. The company had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. During the same period last year, the business posted $0.26 earnings per share. As a group, sell-side analysts predict that Flushing Financial Co. will post 0.69 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 5.85%. The ex-dividend date was Friday, September 6th. Flushing Financial’s dividend payout ratio is currently 88.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $15.00 to $16.50 in a research note on Tuesday, July 30th. StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Raymond James raised their price objective on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.50.

Insiders Place Their Bets

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now owns 83,238 shares of the company’s stock, valued at $1,122,880.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.31% of the stock is currently owned by company insiders.

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.