Hennion & Walsh Asset Management Inc. Has $149,000 Stock Holdings in Flushing Financial Co. (NASDAQ:FFIC)

Hennion & Walsh Asset Management Inc. trimmed its holdings in Flushing Financial Co. (NASDAQ:FFIC) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,252 shares of the bank’s stock after selling 1,359 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Flushing Financial were worth $149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FFIC. AQR Capital Management LLC raised its stake in Flushing Financial by 531.8% during the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock worth $4,292,000 after buying an additional 274,720 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Flushing Financial in the first quarter worth approximately $3,385,000. American Century Companies Inc. raised its stake in shares of 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 purchasing an additional 62,659 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Flushing Financial by 183.4% in the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock worth $1,025,000 after purchasing an additional 52,627 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Flushing Financial by 41.0% in the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after purchasing an additional 46,871 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Raymond James upped their target price on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and upped their target price for the company from $15.00 to $16.50 in a report on Tuesday, July 30th. StockNews.com raised Flushing Financial from a “sell” rating to a “hold” rating in a report on Monday. Finally, Keefe, Bruyette & Woods upped their target price on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

Insider Buying and Selling at Flushing Financial

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of the 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 in the company, valued at $1,122,880.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.31% of the stock is owned by corporate insiders.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $16.22 on Thursday. The stock has a fifty day simple moving average of $14.49 and a two-hundred day simple moving average of $13.49. Flushing Financial Co. has a 1-year low of $10.74 and a 1-year high of $18.00. The firm has a market cap of $471.50 million, a price-to-earnings ratio of 18.64 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 (NASDAQ:FFIC) last announced its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. The business had revenue of $117.45 million during the quarter, compared to analyst estimates of $46.96 million. During the same period in the prior year, the company earned $0.26 earnings per share. Analysts anticipate that Flushing Financial Co. will post 0.69 earnings per share for the current year.

Flushing Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 5.43%. The ex-dividend date was Friday, September 6th. Flushing Financial’s dividend payout ratio (DPR) is 101.15%.

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.