Y Intercept Hong Kong Ltd Decreases Stock Position in Flushing Financial Co. (NASDAQ:FFIC)

Y Intercept Hong Kong Ltd reduced its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 78.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,539 shares of the bank’s stock after selling 53,618 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Flushing Financial were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FFIC. Cubist Systematic Strategies LLC grew its position 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 purchasing an additional 907 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Flushing Financial by 4,000.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock valued at $30,000 after buying an additional 2,000 shares during the last quarter. FMR LLC increased its position in Flushing Financial by 64.1% during the third quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after buying an additional 2,836 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Flushing Financial by 18.7% in the third quarter. BNP Paribas Financial Markets now owns 19,661 shares of the bank’s stock worth $287,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Flushing Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock worth $2,736,000 after acquiring an additional 3,984 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Trading Down 4.7 %

Shares of FFIC stock opened at $14.27 on Thursday. Flushing Financial Co. has a fifty-two week low of $10.74 and a fifty-two week high of $18.59. The firm’s 50 day moving average price is $16.51 and its two-hundred day moving average price is $14.66. The stock has a market cap of $414.81 million, a price-to-earnings ratio of 16.40 and a beta of 0.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27.

Flushing Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend is Friday, December 6th. Flushing Financial’s dividend payout ratio (DPR) is presently 101.15%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Flushing Financial news, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $16.19, for a total value of $129,520.00. Following the completion of the sale, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at $564,270.07. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $15.47, for a total transaction of $154,700.00. Following 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 position. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by insiders.

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.