Wedge Capital Management L L P NC raised its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,941 shares of the bank’s stock after acquiring an additional 4,580 shares during the period. Wedge Capital Management L L P NC owned approximately 0.17% of Flushing Financial worth $1,346,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FFIC. Context BH Capital Management LP raised its stake in Flushing Financial by 278.8% during the 4th quarter. Context BH Capital Management LP now owns 64,620 shares of the bank’s stock valued at $1,777,000 after acquiring an additional 47,563 shares during the last quarter. Santa Monica Partners LP purchased a new stake in Flushing Financial during the 4th quarter valued at approximately $1,201,000. Deutsche Bank AG raised its stake in Flushing Financial by 102.9% during the 4th quarter. Deutsche Bank AG now owns 71,829 shares of the bank’s stock valued at $1,973,000 after acquiring an additional 36,433 shares during the last quarter. BlackRock Inc. raised its stake in Flushing Financial by 1.7% during the 4th quarter. BlackRock Inc. now owns 1,998,599 shares of the bank’s stock valued at $54,962,000 after acquiring an additional 33,112 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in Flushing Financial by 19.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 188,320 shares of the bank’s stock valued at $5,179,000 after acquiring an additional 31,190 shares during the last quarter. 80.89% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on FFIC shares. Zacks Investment Research downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. BidaskClub raised Flushing Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. ValuEngine downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Finally, Gabelli raised Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $30.00.
Shares of FFIC stock opened at $25.55 on Tuesday. The company has a market cap of $726.51 million, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.04. Flushing Financial Co. has a 12-month low of $24.59 and a 12-month high of $31.45. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 2.46.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, April 24th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). The business had revenue of $45.81 million for the quarter. Flushing Financial had a return on equity of 8.36% and a net margin of 16.24%. equities research analysts expect that Flushing Financial Co. will post 1.89 earnings per share for the current year.
Flushing Financial declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
Want to see what other hedge funds are holding FFIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flushing Financial Co. (NASDAQ:FFIC).
Receive News & Ratings for Flushing Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flushing Financial and related companies with MarketBeat.com's FREE daily email newsletter.