Verition Fund Management LLC Purchases New Position in Flushing Financial Co. (NASDAQ:FFIC)

Verition Fund Management LLC acquired a new position in shares of Flushing Financial Co. (NASDAQ:FFIC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 338,551 shares of the bank’s stock, valued at approximately $4,936,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position 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 worth $30,000 after acquiring an additional 2,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flushing Financial during the second quarter valued at approximately $61,000. CWM LLC raised its stake in shares of Flushing Financial by 87.0% during 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 during the period. FMR LLC lifted its position in shares of 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 purchasing an additional 2,836 shares in the last quarter. Finally, Perritt Capital Management Inc purchased a new position in shares of Flushing Financial in the second quarter valued at $132,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $17.87 on Tuesday. The business has a 50 day moving average price of $15.86 and a two-hundred day moving average price of $14.34. Flushing Financial Co. has a fifty-two week low of $10.74 and a fifty-two week high of $18.59. The firm has a market cap of $519.46 million, a PE ratio of 20.54 and a beta of 0.75. 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 Announces Dividend

The business also recently declared 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 of this dividend is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.92%. Flushing Financial’s dividend payout ratio (DPR) is presently 101.15%.

Insider Activity at Flushing Financial

In other news, CAO Astrid Burrowes sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 directly owns 34,853 shares in the company, valued at approximately $564,270.07. The trade was a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sam Sang Ki Han sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 67,251 shares in the company, valued at approximately $1,040,372.97. This 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 corporate insiders.

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 Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Flushing Financial currently has a consensus rating of “Hold” and an average target price of $15.50.

Flushing Financial 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.