Millennium Management LLC Purchases 196,907 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Millennium Management LLC grew its position in Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 332.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 256,067 shares of the bank's stock after purchasing an additional 196,907 shares during the period. Millennium Management LLC owned about 0.76% of Flushing Financial worth $3,657,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FFIC. R Squared Ltd purchased a new stake in shares of Flushing Financial in the fourth quarter valued at about $28,000. US Bancorp DE raised its holdings in shares of Flushing Financial by 496.0% in the fourth quarter. US Bancorp DE now owns 3,725 shares of the bank's stock valued at $53,000 after purchasing an additional 3,100 shares during the last quarter. Quarry LP purchased a new stake in Flushing Financial during the fourth quarter worth about $73,000. New York State Common Retirement Fund increased its holdings in Flushing Financial by 27.8% during the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank's stock worth $92,000 after buying an additional 1,400 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Flushing Financial during the fourth quarter worth about $141,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Flushing Financial Stock Performance

NASDAQ FFIC traded down $0.17 during trading hours on Wednesday, reaching $11.97. 209,765 shares of the company were exchanged, compared to its average volume of 247,059. The stock has a market capitalization of $404.31 million, a P/E ratio of -11.85 and a beta of 0.82. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. The business's 50 day simple moving average is $12.11 and its 200-day simple moving average is $13.90. Flushing Financial Co. has a 1 year low of $10.65 and a 1 year high of $18.59.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $0.23 earnings per share 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 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 expect that Flushing Financial Co. will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.88 annualized dividend and a dividend yield of 7.35%. Flushing Financial's payout ratio is -61.97%.

Insider Transactions at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 6,800 shares of Flushing Financial stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.66% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Flushing Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

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.