Point72 Asia Singapore Pte. Ltd. Takes Position in Flushing Financial Co. (NASDAQ:FFIC)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Flushing Financial Co. (NASDAQ:FFIC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,615 shares of the bank’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased 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. YHB Investment Advisors Inc. bought a new position in shares of Flushing Financial in the first quarter worth about $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Flushing Financial during the first quarter worth approximately $32,000. CWM LLC increased its holdings in shares of Flushing Financial by 87.0% in the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Flushing Financial in the 1st quarter worth approximately $35,000. 67.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Maria A. Grasso sold 4,500 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 83,238 shares of the company’s stock, valued at approximately $1,122,880.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.31% of the stock is owned by company insiders.

Flushing Financial Stock Down 0.1 %

Shares of Flushing Financial stock opened at $14.08 on Monday. The business has a fifty day simple moving average of $14.14 and a 200 day simple moving average of $13.03. The stock has a market cap of $409.29 million, a PE ratio of 14.08 and a beta of 0.76. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial Co. has a 12 month low of $10.74 and a 12 month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly 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 return on equity of 3.96% and a net margin of 5.84%. The company had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. During the same period in the prior year, the business posted $0.26 EPS. Research analysts predict that Flushing Financial Co. will post 0.71 EPS for the current year.

Flushing Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have commented on FFIC. Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $16.50 in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted 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 boosted their price objective on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.