Flushing Financial Co. (NASDAQ:FFIC) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its position in shares of Flushing Financial Co. (NASDAQ:FFIC) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,312 shares of the bank’s stock after buying an additional 4,690 shares during the quarter. Empowered Funds LLC owned 0.32% of Flushing Financial worth $1,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank grew its position in Flushing Financial by 5.4% during the 1st quarter. Swiss National Bank now owns 54,223 shares of the bank’s stock worth $684,000 after purchasing an additional 2,800 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Flushing Financial during the 1st quarter worth about $264,000. Vanguard Group Inc. increased its holdings in shares of Flushing Financial by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank’s stock valued at $20,295,000 after purchasing an additional 5,933 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Flushing Financial in the first quarter worth approximately $35,000. Finally, Gamco Investors INC. ET AL grew its position in Flushing Financial by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 1,209,250 shares of the bank’s stock valued at $15,249,000 after purchasing an additional 11,285 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FFIC has been the topic of several research analyst reports. Raymond James boosted their price target on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised 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. Finally, 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 report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Insider Transactions at Flushing Financial

In other Flushing Financial news, CAO Astrid Burrowes sold 8,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total transaction of $129,520.00. Following the transaction, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. This represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction on Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the completion of the sale, the director now directly owns 67,251 shares of the company’s stock, valued at $1,040,372.97. This trade represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by insiders.

Flushing Financial Stock Performance

Shares of NASDAQ FFIC opened at $17.42 on Friday. Flushing Financial Co. has a one year low of $10.74 and a one year high of $18.40. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $15.47 and a 200 day simple moving average of $14.09. The firm has a market capitalization of $506.40 million, a price-to-earnings ratio of 20.02 and a beta of 0.75.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 5.05%. Flushing Financial’s payout ratio is currently 101.15%.

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.