Flushing Financial Co. (NASDAQ:FFIC) Director Michael A. Azarian Acquires 1,180 Shares of Stock

Flushing Financial Co. (NASDAQ:FFIC) Director Michael A. Azarian acquired 1,180 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $15.25 per share, for a total transaction of $17,995.00. Following the acquisition, the director now directly owns 33,691 shares of the company’s stock, valued at $513,787.75. The trade was a 3.63 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Flushing Financial Stock Performance

FFIC opened at $15.26 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $443.59 million, a PE ratio of 17.54 and a beta of 0.78. The stock has a 50-day moving average of $16.49 and a 200-day moving average of $14.65. Flushing Financial Co. has a 52-week low of $10.74 and a 52-week high of $18.59.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 5.77%. Flushing Financial’s payout ratio is currently 101.15%.

Hedge Funds Weigh In On Flushing Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Flushing Financial by 41.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after buying an additional 46,871 shares during the period. Acadian Asset Management LLC lifted its position in Flushing Financial by 38.1% during the 2nd quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank’s stock worth $4,874,000 after acquiring an additional 102,219 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Flushing Financial by 531.8% during the second quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock valued at $4,292,000 after acquiring an additional 274,720 shares during the period. Dana Investment Advisors Inc. grew its position in shares of Flushing Financial by 11.5% in the second quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank’s stock valued at $5,960,000 after purchasing an additional 46,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Flushing Financial by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 233,236 shares of the bank’s stock worth $3,401,000 after purchasing an additional 4,876 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Flushing Financial has a consensus rating of “Hold” and an average price target of $15.50.

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.