Flushing Financial Co. (NASDAQ:FFIC) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 156.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 31,977 shares of the bank’s stock after purchasing an additional 19,517 shares during the period. JPMorgan Chase & Co. owned approximately 0.10% of Flushing Financial worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Flushing Financial by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 694,216 shares of the bank’s stock worth $10,124,000 after buying an additional 5,128 shares in the last quarter. Dana Investment Advisors Inc. boosted its holdings in Flushing Financial by 11.5% in the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank’s stock valued at $5,960,000 after purchasing an additional 46,800 shares during the period. Verition Fund Management LLC acquired a new position in Flushing Financial during the 3rd quarter worth $4,936,000. AQR Capital Management LLC increased its holdings in Flushing Financial by 531.8% during the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock worth $4,292,000 after purchasing an additional 274,720 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Flushing Financial by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank’s stock worth $3,401,000 after purchasing an additional 4,876 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Flushing Financial Trading Down 2.5 %

NASDAQ FFIC opened at $14.32 on Wednesday. Flushing Financial Co. has a 12 month low of $10.74 and a 12 month high of $18.59. The company has a market capitalization of $482.01 million, a price-to-earnings ratio of 16.46 and a beta of 0.81. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $15.56 and its 200 day moving average price is $15.08.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Flushing Financial had a return on equity of 3.75% and a net margin of 5.48%. On average, sell-side analysts expect that Flushing Financial Co. will post 0.8 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Friday, December 6th. Flushing Financial’s payout ratio is currently 101.15%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.50.

Insider Transactions at Flushing Financial

In related news, Director Sam Sang Ki Han sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was 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 $1,040,372.97. The trade was a 12.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction that occurred 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 directly owns 34,853 shares of the company’s stock, valued at $564,270.07. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.31% of the company’s stock.

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.