Flushing Financial Co. (NASDAQ:FFIC) Shares Bought by Perritt Capital Management Inc

Perritt Capital Management Inc increased its position in Flushing Financial Co. (NASDAQ:FFIC) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 15,000 shares of the bank’s stock after buying an additional 5,000 shares during the period. Perritt Capital Management Inc’s holdings in Flushing Financial were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in FFIC. Massachusetts Financial Services Co. MA acquired a new position in Flushing Financial in the fourth quarter worth about $1,097,000. Trexquant Investment LP boosted its holdings in Flushing Financial by 45.2% in the fourth quarter. Trexquant Investment LP now owns 141,493 shares of the bank’s stock valued at $2,021,000 after acquiring an additional 44,060 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Flushing Financial by 743.3% during the 4th quarter. Franklin Resources Inc. now owns 149,373 shares of the bank’s stock worth $2,133,000 after buying an additional 131,661 shares during the period. Alliancebernstein L.P. boosted its stake in Flushing Financial by 284.4% in the fourth quarter. Alliancebernstein L.P. now owns 183,672 shares of the bank’s stock valued at $2,623,000 after acquiring an additional 135,887 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Flushing Financial during the fourth quarter worth $4,166,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Stock Down 0.4 %

Shares of FFIC stock opened at $12.65 on Wednesday. Flushing Financial Co. has a 12-month low of $10.74 and a 12-month high of $18.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. The firm has a fifty day moving average of $13.89 and a 200-day moving average of $14.97. The company has a market capitalization of $427.28 million, a price-to-earnings ratio of -12.52 and a beta of 0.79.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. As a group, equities research analysts predict that Flushing Financial Co. will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.96%. The ex-dividend date of this dividend was Friday, March 14th. Flushing Financial’s payout ratio is -87.13%.

Insiders Place Their Bets

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the sale, the executive vice president now owns 32,336 shares of the company’s stock, valued at $417,781.12. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, March 25th.

Flushing Financial Company Profile

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.