Adage Capital Partners GP L.L.C. Buys New Shares in Flushing Financial Co. (NASDAQ:FFIC)

Adage Capital Partners GP L.L.C. purchased a new position in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 21,042 shares of the bank's stock, valued at approximately $300,000. Adage Capital Partners GP L.L.C. owned about 0.06% of Flushing Financial at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Flushing Financial by 0.7% during the third quarter. Geode Capital Management LLC now owns 694,216 shares of the bank's stock worth $10,124,000 after buying an additional 5,128 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Flushing Financial by 15.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 16,758 shares of the bank's stock worth $239,000 after purchasing an additional 2,219 shares in the last quarter. Barclays PLC increased its position in shares of Flushing Financial by 56.8% in the third quarter. Barclays PLC now owns 51,833 shares of the bank's stock worth $756,000 after purchasing an additional 18,773 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Flushing Financial in the fourth quarter worth $450,000. Finally, New York State Common Retirement Fund raised its stake in Flushing Financial by 27.8% in the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank's stock valued at $92,000 after purchasing an additional 1,400 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Flushing Financial from a "sell" rating to a "hold" rating in a report on Wednesday.

Flushing Financial Price Performance

Shares of FFIC stock traded up $0.50 on Friday, hitting $12.71. 239,513 shares of the company's stock were exchanged, compared to its average volume of 248,147. Flushing Financial Co. has a 12 month low of $10.65 and a 12 month high of $18.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. The company has a 50 day moving average of $12.51 and a 200 day moving average of $14.49. The stock has a market cap of $429.31 million, a P/E ratio of -12.58 and a beta of 0.67.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The bank reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The company had revenue of $58.10 million for the quarter, compared to the consensus estimate of $55.38 million. Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. On average, equities research analysts predict that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend was Friday, March 14th. Flushing Financial's payout ratio is -87.13%.

Insider Activity at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the completion of the transaction, the executive vice president now directly owns 32,336 shares in the company, valued at approximately $417,781.12. This represents a 17.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.31% of the stock is currently owned by company 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.