Adage Capital Partners GP L.L.C. Takes $300,000 Position in Flushing Financial Co. (NASDAQ:FFIC)

Adage Capital Partners GP L.L.C. purchased a new position in Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FFIC. Price T Rowe Associates Inc. MD lifted its stake in shares of Flushing Financial by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,780 shares of the bank's stock worth $1,011,000 after buying an additional 2,361 shares in the last quarter. Mendon Capital Advisors Corp bought a new position in Flushing Financial in the 4th quarter valued at approximately $4,998,000. MetLife Investment Management LLC boosted its stake in Flushing Financial by 22.2% during the 4th quarter. MetLife Investment Management LLC now owns 16,755 shares of the bank's stock valued at $239,000 after purchasing an additional 3,049 shares during the last quarter. Curi RMB Capital LLC bought a new stake in shares of Flushing Financial in the 4th quarter worth $4,459,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Flushing Financial by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,755,762 shares of the bank's stock worth $25,072,000 after purchasing an additional 36,845 shares during the last quarter. Institutional investors own 67.10% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Flushing Financial from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the 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 transaction, the executive vice president now directly owns 32,336 shares in the company, valued at approximately $417,781.12. This trade represents a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.31% of the company's stock.

Flushing Financial Stock Performance

FFIC stock traded down $0.07 on Tuesday, hitting $12.64. The company had a trading volume of 29,996 shares, compared to its average volume of 247,419. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. Flushing Financial Co. has a 12-month low of $10.65 and a 12-month high of $18.59. The stock has a market cap of $426.94 million, a price-to-earnings ratio of -12.53 and a beta of 0.81. The stock's 50-day simple moving average is $12.48 and its 200 day simple moving average is $14.46.

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

Flushing Financial Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend was Friday, March 14th. Flushing Financial's dividend payout ratio (DPR) is presently -61.97%.

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.