Dana Investment Advisors Inc. Grows Holdings in Flushing Financial Co. (NASDAQ:FFIC)

Dana Investment Advisors Inc. increased its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 453,198 shares of the bank’s stock after buying an additional 46,800 shares during the quarter. Dana Investment Advisors Inc. owned about 1.56% of Flushing Financial worth $5,960,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FFIC. Deerfield Management Company L.P. Series C raised its stake in shares of Flushing Financial by 64.7% during the second quarter. Deerfield Management Company L.P. Series C now owns 66,357 shares of the bank’s stock worth $873,000 after purchasing an additional 26,067 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of 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 buying an additional 274,720 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flushing Financial in the 2nd quarter valued at approximately $61,000. Cubist Systematic Strategies LLC boosted its stake in shares of Flushing Financial by 1.3% in the second quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank’s stock valued at $896,000 after buying an additional 907 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Flushing Financial by 20.3% during the 2nd quarter. Sei Investments Co. now owns 142,004 shares of the bank’s stock worth $1,867,000 after purchasing an additional 24,008 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total transaction of $60,705.00. Following the completion of the sale, the chief operating officer now owns 83,238 shares in the company, valued at approximately $1,122,880.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.31% of the company’s stock.

Flushing Financial Stock Down 4.8 %

FFIC opened at $13.88 on Wednesday. The company has a market cap of $403.48 million, a PE ratio of 13.88 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 Co. has a 1 year low of $10.74 and a 1 year high of $18.00. The firm has a 50 day moving average price of $14.08 and a 200 day moving average price of $13.07.

Flushing Financial (NASDAQ:FFIC) last issued its 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 net margin of 5.84% and a return on equity of 3.96%. The business had revenue of $117.45 million for the quarter, compared to the consensus estimate of $46.96 million. During the same quarter last year, the firm posted $0.26 EPS. Sell-side analysts expect that Flushing Financial Co. will post 0.71 earnings per share for the current year.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Friday, September 6th. Flushing Financial’s dividend payout ratio (DPR) is 88.00%.

Analysts Set New Price Targets

A number of research firms recently commented on FFIC. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. Raymond James boosted their target price on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com cut Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.50.

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.