Flushing Financial Co. (NASDAQ:FFIC) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in Flushing Financial Co. (NASDAQ:FFIC) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 334,900 shares of the bank’s stock after purchasing an additional 15,000 shares during the period. Renaissance Technologies LLC’s holdings in Flushing Financial were worth $4,404,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in shares of Flushing Financial during the first quarter valued at about $3,385,000. Assenagon Asset Management S.A. increased its stake in Flushing Financial by 41.0% during the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock valued at $2,121,000 after purchasing an additional 46,871 shares during the last quarter. Empowered Funds LLC lifted its position 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 buying an additional 52,627 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Flushing Financial by 5.4% in the 1st quarter. Swiss National Bank now owns 54,223 shares of the bank’s stock valued at $684,000 after buying an additional 2,800 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Flushing Financial by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock worth $5,947,000 after purchasing an additional 62,659 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler cut shares of Flushing Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Raymond James lifted their price objective 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. Finally, StockNews.com lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.50.

Insider Activity at Flushing Financial

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 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 available at the SEC website. Insiders own 6.31% of the company’s stock.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $14.08 on Friday. The firm has a 50-day moving average of $14.14 and a two-hundred day moving average of $13.03. The company has a market capitalization of $409.29 million, a price-to-earnings ratio of 14.08 and a beta of 0.76. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial Co. has a twelve month low of $10.74 and a twelve month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, hitting the consensus estimate 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 last year, the firm posted $0.26 earnings per share. As a group, analysts expect that Flushing Financial Co. will post 0.71 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend 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.