Citadel Advisors LLC Sells 1,918 Shares of Flushing Financial Co. (FFIC)
Citadel Advisors LLC trimmed its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 20.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,687 shares of the bank’s stock after selling 1,918 shares during the period. Citadel Advisors LLC’s holdings in Flushing Financial were worth $228,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FFIC. SG Americas Securities LLC purchased a new position in shares of Flushing Financial during the third quarter valued at approximately $135,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Flushing Financial by 277.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock valued at $136,000 after purchasing an additional 3,553 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Flushing Financial during the second quarter valued at approximately $221,000. Schroder Investment Management Group lifted its holdings in shares of Flushing Financial by 2.4% during the second quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock valued at $284,000 after purchasing an additional 233 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Flushing Financial by 2.0% during the second quarter. Legal & General Group Plc now owns 10,446 shares of the bank’s stock valued at $295,000 after purchasing an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.
Several equities analysts have recently issued reports on FFIC shares. Piper Jaffray Companies reiterated a “hold” rating and set a $28.00 target price on shares of Flushing Financial in a report on Friday, November 10th. Zacks Investment Research lowered shares of Flushing Financial from a “buy” rating to a “hold” rating in a report on Friday, September 15th. ValuEngine upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Sandler O’Neill lowered shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Thursday, November 30th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial in a report on Sunday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Flushing Financial currently has a consensus rating of “Hold” and a consensus target price of $30.25.
Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, October 31st. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). Flushing Financial had a return on equity of 9.04% and a net margin of 19.50%. The firm had revenue of $44.70 million during the quarter. analysts anticipate that Flushing Financial Co. will post 1.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a yield of 2.57%. Flushing Financial’s payout ratio is currently 42.35%.
In related news, Director John E. Sr Roe, Sr. sold 3,629 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $26.98, for a total value of $97,910.42. Following the completion of the transaction, the director now directly owns 66,434 shares in the company, valued at approximately $1,792,389.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sam Sang Ki Han sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.93, for a total transaction of $144,650.00. Following the completion of the transaction, the director now owns 41,066 shares of the company’s stock, valued at $1,188,039.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,058 shares of company stock valued at $443,589. 4.86% of the stock is owned by company insiders.
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Flushing Financial Profile
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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