Cubist Systematic Strategies LLC Has $1.71 Million Stock Position in Flushing Financial Co. (NASDAQ:FFIC)

Cubist Systematic Strategies LLC increased its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 1,305.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,380 shares of the bank's stock after purchasing an additional 110,886 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.35% of Flushing Financial worth $1,705,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FFIC. The Manufacturers Life Insurance Company lifted its holdings in shares of Flushing Financial by 153.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 825,708 shares of the bank's stock valued at $11,791,000 after purchasing an additional 499,821 shares in the last quarter. Patriot Financial Partners GP LP bought a new position in shares of Flushing Financial in the fourth quarter valued at approximately $6,783,000. Mendon Capital Advisors Corp bought a new position in shares of Flushing Financial in the fourth quarter valued at approximately $4,998,000. Foundry Partners LLC bought a new position in shares of Flushing Financial in the fourth quarter valued at approximately $4,498,000. Finally, Curi RMB Capital LLC bought a new position in shares of Flushing Financial in the fourth quarter valued at approximately $4,459,000. Institutional investors and hedge funds own 67.10% of the company's stock.

Insider Buying and Selling

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the sale, the executive vice president now directly owns 32,336 shares of the company's stock, 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 Securities & Exchange Commission, which is available through the SEC website. 6.31% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Flushing Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

Flushing Financial Trading Up 3.2%

FFIC opened at $13.16 on Tuesday. The business has a 50 day simple moving average of $12.36 and a two-hundred day simple moving average of $14.38. The firm has a market capitalization of $444.51 million, a price-to-earnings ratio of -13.03 and a beta of 0.81. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. Flushing Financial Co. has a one year low of $10.65 and a one year high of $18.59.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm 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%. Analysts predict that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.22 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 6.69%. Flushing Financial's dividend payout ratio is currently -61.97%.

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.

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