Mendon Capital Advisors Corp Makes New $5 Million Investment in Flushing Financial Co. (NASDAQ:FFIC)

Mendon Capital Advisors Corp bought a new stake in Flushing Financial Co. (NASDAQ:FFIC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 350,000 shares of the bank's stock, valued at approximately $4,998,000. Flushing Financial makes up approximately 2.5% of Mendon Capital Advisors Corp's investment portfolio, making the stock its 14th largest holding. Mendon Capital Advisors Corp owned about 1.04% of Flushing Financial as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FFIC. Dimensional Fund Advisors LP increased its holdings in shares of Flushing Financial by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,755,762 shares of the bank's stock worth $25,072,000 after buying an additional 36,845 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Flushing Financial by 14.1% in the fourth quarter. Vanguard Group Inc. now owns 1,734,753 shares of the bank's stock valued at $24,772,000 after buying an additional 214,195 shares during the last quarter. Geode Capital Management LLC lifted its position in Flushing Financial by 0.7% during the 3rd 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. American Century Companies Inc. grew its holdings in Flushing Financial by 23.3% during the 4th quarter. American Century Companies Inc. now owns 617,687 shares of the bank's stock worth $8,821,000 after acquiring an additional 116,819 shares during the last quarter. Finally, Patriot Financial Partners GP LP acquired a new stake in Flushing Financial in the 4th quarter valued at about $6,783,000. Institutional investors own 67.10% of the company's stock.

Flushing Financial Trading Down 0.5 %

FFIC stock traded down $0.06 during midday trading on Friday, reaching $12.25. The company's stock had a trading volume of 192,627 shares, compared to its average volume of 246,336. The business's 50-day simple moving average is $12.72 and its 200-day simple moving average is $14.58. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. Flushing Financial Co. has a 52 week low of $10.65 and a 52 week high of $18.59. The stock has a market cap of $413.77 million, a PE ratio of -12.13 and a beta of 0.67.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. As a group, sell-side analysts expect that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date was Friday, March 14th. Flushing Financial's dividend payout ratio is currently -87.13%.

Insider Activity

In other 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 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 document filed with the SEC, which is available through this hyperlink. 6.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Flushing Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, March 25th.

Flushing Financial 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.