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Alyeska Investment Group L.P. Invests $3.16 Million in Flushing Financial Co. (NASDAQ:FFIC)

Flushing Financial logo with Finance background

Alyeska Investment Group L.P. purchased a new stake in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 221,370 shares of the bank's stock, valued at approximately $3,161,000. Alyeska Investment Group L.P. owned approximately 0.66% of Flushing Financial at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Flushing Financial by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,755,762 shares of the bank's stock valued at $25,072,000 after purchasing an additional 36,845 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Flushing Financial by 14.1% in the 4th quarter. Vanguard Group Inc. now owns 1,734,753 shares of the bank's stock worth $24,772,000 after buying an additional 214,195 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Flushing Financial by 153.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 825,708 shares of the bank's stock valued at $11,791,000 after buying an additional 499,821 shares in the last quarter. American Century Companies Inc. raised its position in shares of Flushing Financial by 23.3% during the 4th quarter. American Century Companies Inc. now owns 617,687 shares of the bank's stock valued at $8,821,000 after buying an additional 116,819 shares in the last quarter. Finally, Patriot Financial Partners GP LP bought a new position in shares of Flushing Financial in the 4th quarter valued at about $6,783,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Stock Performance

Shares of NASDAQ FFIC traded up $0.42 during mid-day trading on Monday, hitting $13.17. The stock had a trading volume of 60,025 shares, compared to its average volume of 249,531. The company has a 50 day moving average of $12.37 and a two-hundred day moving average of $14.40. The firm has a market cap of $444.84 million, a PE ratio of -13.04 and a beta of 0.81. Flushing Financial Co. has a twelve month low of $10.65 and a twelve month high of $18.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $58.10 million during the quarter, compared to analyst estimates of $55.38 million. Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. Research analysts predict that Flushing Financial Co. will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.68%. The ex-dividend date was Friday, March 14th. Flushing Financial's payout ratio is presently -61.97%.

Insider Buying and Selling

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total value of $87,856.00. Following the transaction, the executive vice president now owns 32,336 shares in the company, valued at $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 SEC, which is available through this link. 6.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised Flushing Financial from a "sell" rating to a "hold" rating in a research note on Thursday.

View Our Latest Analysis on FFIC

Flushing Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Flushing Financial (NASDAQ:FFIC)

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