Teton Advisors LLC Purchases New Stake in Flushing Financial Corporation $FFIC

Teton Advisors LLC acquired a new position in shares of Flushing Financial Corporation (NASDAQ:FFIC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 106,500 shares of the bank’s stock, valued at approximately $1,471,000. Teton Advisors LLC owned about 0.32% of Flushing Financial at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FFIC. Martin & Co. Inc. TN raised its holdings in shares of Flushing Financial by 1.8% in the 3rd quarter. Martin & Co. Inc. TN now owns 58,449 shares of the bank’s stock worth $807,000 after acquiring an additional 1,037 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Flushing Financial by 5.1% in the second quarter. First Trust Advisors LP now owns 21,621 shares of the bank’s stock valued at $257,000 after purchasing an additional 1,049 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Flushing Financial by 9.1% in the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank’s stock valued at $222,000 after purchasing an additional 1,453 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Flushing Financial by 75.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Flushing Financial by 15.7% during the third quarter. Intech Investment Management LLC now owns 13,457 shares of the bank’s stock worth $186,000 after purchasing an additional 1,826 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Flushing Financial Price Performance

NASDAQ:FFIC opened at $15.39 on Friday. Flushing Financial Corporation has a 52-week low of $10.65 and a 52-week high of $17.79. The stock has a fifty day moving average of $15.85 and a 200 day moving average of $15.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $521.41 million, a price-to-earnings ratio of 28.50 and a beta of 0.82.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, January 27th. The bank reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Flushing Financial had a return on equity of 5.96% and a net margin of 3.86%.The business had revenue of $58.81 million during the quarter, compared to the consensus estimate of $62.27 million. On average, research analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, March 13th. This represents a $0.88 annualized dividend and a yield of 5.7%. Flushing Financial’s payout ratio is presently 162.96%.

Wall Street Analysts Forecast Growth

FFIC has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a report on Monday, December 29th. Wall Street Zen cut shares of Flushing Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Keefe, Bruyette & Woods increased their target price on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Raymond James Financial downgraded shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 31st. Finally, Zacks Research cut shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Flushing Financial presently has a consensus rating of “Reduce” and a consensus target price of $16.80.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 1,570 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the completion of the transaction, the executive vice president owned 35,469 shares of the company’s stock, valued at $574,597.80. The trade was a 4.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.66% of the stock is currently owned by insiders.

Flushing Financial Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.