LSV Asset Management Sells 126,098 Shares of Flushing Financial Co. (NASDAQ:FFIC)

LSV Asset Management lowered its position in Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,525 shares of the bank's stock after selling 126,098 shares during the period. LSV Asset Management owned about 0.89% of Flushing Financial worth $4,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFIC. Emerald Mutual Fund Advisers Trust acquired a new stake in Flushing Financial in the 3rd quarter valued at approximately $149,000. EMC Capital Management increased its stake in Flushing Financial by 116.7% in the 3rd quarter. EMC Capital Management now owns 11,493 shares of the bank's stock valued at $151,000 after buying an additional 6,189 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Flushing Financial by 72.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,944 shares of the bank's stock worth $209,000 after buying an additional 6,697 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Flushing Financial in the 4th quarter valued at about $482,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Flushing Financial by 36.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 57,366 shares of the bank's stock valued at $753,000 after acquiring an additional 15,291 shares during the last quarter. 67.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FFIC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Flushing Financial from $14.00 to $13.00 and set a "market perform" rating for the company in a report on Friday, April 26th. DA Davidson lowered their price objective on shares of Flushing Financial from $17.00 to $13.50 and set a "neutral" rating on the stock in a research note on Tuesday, March 5th. Finally, StockNews.com downgraded shares of Flushing Financial from a "hold" rating to a "sell" rating in a research note on Thursday, April 25th.

Flushing Financial Stock Performance

Shares of FFIC traded up $0.16 during trading hours on Thursday, hitting $12.57. The company had a trading volume of 134,457 shares, compared to its average volume of 187,285. The firm has a market cap of $365.41 million, a price-to-earnings ratio of 12.48 and a beta of 0.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The business has a fifty day moving average of $12.01 and a 200-day moving average of $13.77. Flushing Financial Co. has a 12 month low of $9.28 and a 12 month high of $18.00.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The firm had revenue of $112.58 million for the quarter, compared to the consensus estimate of $47.12 million. Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. During the same quarter in the prior year, the firm earned $0.10 EPS. Equities analysts anticipate that Flushing Financial Co. will post 0.71 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a $0.22 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.88 annualized dividend and a yield of 7.00%. Flushing Financial's dividend payout ratio is presently 88.00%.

Insider Activity

In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the transaction, the executive vice president now owns 73,493 shares of the company's stock, valued at $926,746.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Francis W. Korzekwinski sold 7,649 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the sale, the executive vice president now directly owns 73,493 shares in the company, valued at $926,746.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas Buonaiuto sold 19,000 shares of the firm's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $13.21, for a total value of $250,990.00. Following the transaction, the executive vice president now directly owns 32,391 shares of the company's stock, valued at $427,885.11. The disclosure for this sale can be found here. Insiders own 6.31% of the company's stock.

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.