Flushing Financial Co. (NASDAQ:FFIC) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 531.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 326,376 shares of the bank’s stock after purchasing an additional 274,720 shares during the period. AQR Capital Management LLC owned 1.12% of Flushing Financial worth $4,292,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. YHB Investment Advisors Inc. acquired a new position in Flushing Financial during the first quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Flushing Financial during the 1st quarter valued at about $32,000. EntryPoint Capital LLC purchased a new stake in shares of Flushing Financial in the first quarter valued at about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flushing Financial in the second quarter valued at about $61,000. Finally, CWM LLC increased its position in Flushing Financial by 87.0% during the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock worth $73,000 after purchasing an additional 2,575 shares during the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Maria A. Grasso sold 4,500 shares of the business’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 $1,122,880.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.31% of the company’s stock.

Analyst Ratings Changes

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

Flushing Financial Stock Performance

NASDAQ:FFIC opened at $14.09 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average price of $13.93 and a 200 day moving average price of $13.09. Flushing Financial Co. has a fifty-two week low of $10.74 and a fifty-two week high of $18.00. The stock has a market capitalization of $409.58 million, a P/E ratio of 14.09 and a beta of 0.76.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, meeting the consensus estimate 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 net margin of 5.84% and a return on equity of 3.96%. During the same quarter last year, the company posted $0.26 EPS. Equities research analysts forecast that Flushing Financial Co. will post 0.71 EPS for the current year.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.25%. The ex-dividend date was Friday, September 6th. Flushing Financial’s dividend payout ratio (DPR) is presently 88.00%.

About Flushing Financial

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.