BNP Paribas Arbitrage SA lifted its position in Flushing Financial Co. (NASDAQ:FFIC) by 49.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,914 shares of the bank’s stock after acquiring an additional 4,299 shares during the period. BNP Paribas Arbitrage SA’s holdings in Flushing Financial were worth $274,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Swiss National Bank lifted its position in Flushing Financial by 2.7% during the first quarter. Swiss National Bank now owns 58,023 shares of the bank’s stock valued at $1,232,000 after purchasing an additional 1,500 shares during the period. IndexIQ Advisors LLC lifted its position in Flushing Financial by 17.6% during the first quarter. IndexIQ Advisors LLC now owns 18,437 shares of the bank’s stock valued at $391,000 after purchasing an additional 2,760 shares during the period. Victory Capital Management Inc. lifted its position in Flushing Financial by 119.2% during the first quarter. Victory Capital Management Inc. now owns 368,007 shares of the bank’s stock valued at $7,813,000 after purchasing an additional 200,126 shares during the period. LSV Asset Management lifted its position in Flushing Financial by 37.8% during the first quarter. LSV Asset Management now owns 700,647 shares of the bank’s stock valued at $14,874,000 after purchasing an additional 192,021 shares during the period. Finally, Norges Bank bought a new position in Flushing Financial during the fourth quarter valued at approximately $2,253,000. Institutional investors own 68.05% of the company’s stock.
Shares of FFIC stock opened at $22.37 on Wednesday. Flushing Financial Co. has a 12 month low of $9.85 and a 12 month high of $25.22. The stock has a market capitalization of $692.46 million, a PE ratio of 12.16 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.48. The firm’s 50 day simple moving average is $22.89.
Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, April 27th. The bank reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. Flushing Financial had a net margin of 19.00% and a return on equity of 10.13%. The business had revenue of $67.20 million during the quarter, compared to analysts’ expectations of $59.40 million. On average, sell-side analysts predict that Flushing Financial Co. will post 2.47 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, June 4th will be paid a $0.21 dividend. The ex-dividend date is Thursday, June 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.76%. Flushing Financial’s dividend payout ratio (DPR) is presently 49.41%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, April 30th. DA Davidson started coverage on shares of Flushing Financial in a research report on Friday, March 19th. They set a “neutral” rating on the stock. Finally, G.Research reaffirmed a “buy” rating on shares of Flushing Financial in a report on Thursday, April 29th.
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, demand accounts, NOW accounts, and certificates of deposit.
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