Flushing Financial Corporation $FFIC Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its holdings in Flushing Financial Corporation (NASDAQ:FFIC) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,961 shares of the bank’s stock after selling 10,519 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.33% of Flushing Financial worth $1,422,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Flushing Financial by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 1,895,886 shares of the bank’s stock valued at $24,078,000 after buying an additional 161,133 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Flushing Financial by 26.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 839,438 shares of the bank’s stock valued at $10,661,000 after buying an additional 174,970 shares during the period. Patriot Financial Partners GP LP lifted its holdings in shares of Flushing Financial by 21.1% in the 1st quarter. Patriot Financial Partners GP LP now owns 575,000 shares of the bank’s stock valued at $7,302,000 after buying an additional 100,000 shares during the period. Invesco Ltd. lifted its holdings in shares of Flushing Financial by 57.7% in the 1st quarter. Invesco Ltd. now owns 541,904 shares of the bank’s stock valued at $6,882,000 after buying an additional 198,233 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Flushing Financial by 20.7% in the 1st quarter. AQR Capital Management LLC now owns 476,031 shares of the bank’s stock valued at $6,046,000 after buying an additional 81,497 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $14.13 on Friday. The stock has a fifty day moving average price of $12.80 and a 200 day moving average price of $12.53. The stock has a market cap of $477.31 million, a PE ratio of -11.87 and a beta of 0.83. Flushing Financial Corporation has a 1 year low of $10.65 and a 1 year high of $18.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $58.92 million during the quarter, compared to the consensus estimate of $60.13 million. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%. Sell-side analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.88 annualized dividend and a yield of 6.2%. Flushing Financial’s dividend payout ratio (DPR) is presently -73.95%.

Analysts Set New Price Targets

Separately, Zacks Research raised Flushing Financial from a “strong sell” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Flushing Financial has a consensus rating of “Hold”.

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.