The Manufacturers Life Insurance Company Buys 499,821 Shares of Flushing Financial Co. (NASDAQ:FFIC)

The Manufacturers Life Insurance Company raised its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC - Free Report) by 153.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 825,708 shares of the bank's stock after buying an additional 499,821 shares during the period. The Manufacturers Life Insurance Company owned about 2.45% of Flushing Financial worth $11,791,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Flushing Financial during the fourth quarter worth about $28,000. US Bancorp DE lifted its holdings in Flushing Financial by 496.0% in the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank's stock worth $53,000 after buying an additional 3,100 shares during the period. Quarry LP bought a new stake in shares of Flushing Financial in the 4th quarter worth approximately $73,000. New York State Common Retirement Fund increased its stake in shares of 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 valued at $92,000 after buying an additional 1,400 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Flushing Financial during the fourth quarter valued at approximately $141,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Flushing Financial from a "sell" rating to a "hold" rating in a report on Thursday.

Insider Transactions at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 approximately $417,781.12. This represents a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.31% of the stock is owned by insiders.

Flushing Financial Stock Down 0.7 %

FFIC traded down $0.09 during trading on Friday, reaching $12.77. The stock had a trading volume of 176,877 shares, compared to its average volume of 250,282. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $431.33 million, a price-to-earnings ratio of -12.64 and a beta of 0.81. The stock's 50 day moving average is $12.37 and its two-hundred day moving average is $14.40. 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 quarterly earnings data on Tuesday, April 29th. The bank reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. The business had revenue of $58.10 million for the quarter, compared to analysts' expectations of $55.38 million. As a group, analysts expect that Flushing Financial Co. will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 6.89%. Flushing Financial's payout ratio is presently -61.97%.

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.