Flushing Financial Co. (NASDAQ:FFIC) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its position in Flushing Financial Co. (NASDAQ:FFIC) by 16.1% during the second quarter, Holdings Channel reports. The fund owned 452,209 shares of the bank’s stock after purchasing an additional 62,659 shares during the quarter. American Century Companies Inc.’s holdings in Flushing Financial were worth $5,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of FFIC. Acadian Asset Management LLC acquired a new stake in shares of Flushing Financial in the 1st quarter worth about $3,385,000. Empowered Funds LLC increased its holdings in shares of Flushing Financial by 183.4% in the 1st quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock worth $1,025,000 after acquiring an additional 52,627 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Flushing Financial by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after acquiring an additional 46,871 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Flushing Financial in the 1st quarter worth about $385,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Flushing Financial in the 1st quarter worth about $264,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

FFIC has been the topic of several research analyst reports. StockNews.com cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Piper Sandler cut shares of Flushing Financial from an “overweight” rating to a “neutral” rating and raised their target price for the company from $15.00 to $16.50 in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on shares of Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, Raymond James raised their target price on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $15.50.

Flushing Financial Stock Down 2.3 %

NASDAQ FFIC opened at $14.29 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $13.00. Flushing Financial Co. has a 12 month low of $10.74 and a 12 month high of $18.00. The company has a market capitalization of $415.40 million, a P/E ratio of 14.29 and a beta of 0.76.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, hitting 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 period in the previous year, the firm earned $0.26 EPS. Equities research analysts expect that Flushing Financial Co. will post 0.71 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.16%. Flushing Financial’s payout ratio is currently 88.00%.

Insider Buying and Selling

In other news, COO Maria A. Grasso sold 4,500 shares of Flushing Financial stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now directly owns 83,238 shares of the company’s stock, valued at $1,122,880.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.