Geode Capital Management LLC Raises Position in Flushing Financial Co. (NASDAQ:FFIC)

Geode Capital Management LLC increased its position in shares of Flushing Financial Co. (NASDAQ:FFIC) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 694,216 shares of the bank’s stock after purchasing an additional 5,128 shares during the period. Geode Capital Management LLC owned approximately 2.39% of Flushing Financial worth $10,124,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Flushing Financial by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock worth $2,736,000 after buying an additional 3,984 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Flushing Financial by 38.1% during the second quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank’s stock worth $4,874,000 after acquiring an additional 102,219 shares during the period. American Century Companies Inc. raised its position in Flushing Financial by 16.1% in the second quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock worth $5,947,000 after acquiring an additional 62,659 shares in the last quarter. Perritt Capital Management Inc acquired a new stake in Flushing Financial in the second quarter valued at $132,000. Finally, Renaissance Technologies LLC boosted its position in shares of Flushing Financial by 4.7% during the 2nd quarter. Renaissance Technologies LLC now owns 334,900 shares of the bank’s stock worth $4,404,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Flushing Financial Stock Performance

Shares of FFIC stock opened at $14.28 on Thursday. The stock has a fifty day moving average price of $16.36 and a 200 day moving average price of $14.80. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $480.65 million, a PE ratio of 16.41 and a beta of 0.78. Flushing Financial Co. has a 1 year low of $10.74 and a 1 year high of $18.59.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.16%. The ex-dividend date of this dividend was Friday, December 6th. Flushing Financial’s dividend payout ratio (DPR) is presently 101.15%.

Insider Buying and Selling

In other Flushing Financial news, CAO Astrid Burrowes sold 8,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the transaction, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sam Sang Ki Han sold 10,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the completion of the sale, the director now owns 67,251 shares in the company, valued at $1,040,372.97. This represents a 12.94 % 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 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.