Bank of New York Mellon Corp Buys 68,260 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Bank of New York Mellon Corp boosted its stake in Flushing Financial Co. (NASDAQ:FFIC) by 36.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,765 shares of the bank’s stock after acquiring an additional 68,260 shares during the quarter. Bank of New York Mellon Corp owned 0.77% of Flushing Financial worth $3,681,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd raised its stake in shares of Flushing Financial by 15.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank’s stock valued at $239,000 after purchasing an additional 2,219 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Flushing Financial by 27.8% during the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock worth $92,000 after buying an additional 1,400 shares in the last quarter. Angel Oak Capital Advisors LLC bought a new position in shares of Flushing Financial during the fourth quarter worth about $428,000. Stieven Capital Advisors L.P. acquired a new stake in Flushing Financial in the 4th quarter valued at approximately $3,344,000. Finally, Empowered Funds LLC lifted its stake in Flushing Financial by 2.8% in the 4th quarter. Empowered Funds LLC now owns 94,908 shares of the bank’s stock valued at $1,355,000 after acquiring an additional 2,596 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

Insider Activity at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the transaction, the executive vice president now directly owns 32,336 shares of the company’s stock, valued at $417,781.12. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.31% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a research note on Monday.

Flushing Financial Price Performance

NASDAQ:FFIC opened at $13.18 on Wednesday. The firm has a fifty day simple moving average of $14.23 and a 200 day simple moving average of $15.02. Flushing Financial Co. has a 1-year low of $10.74 and a 1-year high of $18.59. The stock has a market capitalization of $445.18 million, a PE ratio of -13.05 and a beta of 0.79. 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 posted its quarterly 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 positive return on equity of 3.25% and a negative net margin of 6.46%. On average, research analysts expect that Flushing Financial Co. will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend is Friday, March 14th. Flushing Financial’s payout ratio is presently -87.13%.

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.