Flushing Financial Co. (NASDAQ:FFIC) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its position in shares of Flushing Financial Co. (NASDAQ:FFIC) by 56.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 65,000 shares of the bank’s stock after selling 85,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Flushing Financial were worth $928,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in shares of Flushing Financial by 4,000.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock valued at $30,000 after acquiring an additional 2,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flushing Financial in the 2nd quarter valued at about $61,000. FMR LLC increased its position in Flushing Financial by 64.1% during the third quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after buying an additional 2,836 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Flushing Financial in the third quarter valued at approximately $171,000. Finally, CWM LLC grew its position in shares of Flushing Financial by 136.6% during the third quarter. CWM LLC now owns 13,093 shares of the bank’s stock worth $191,000 after acquiring an additional 7,559 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Insider Activity at Flushing Financial

In related news, CAO Astrid Burrowes sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the completion of the transaction, the chief accounting officer now directly owns 34,853 shares of the company’s stock, valued at $564,270.07. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction on Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at approximately $1,040,372.97. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.31% of the company’s stock.

Wall Street Analyst Weigh In

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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.50.

Flushing Financial Stock Down 1.3 %

FFIC opened at $14.76 on Friday. The business has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $14.99. Flushing Financial Co. has a 12 month low of $10.74 and a 12 month high of $18.59. The stock has a market capitalization of $496.82 million, a P/E ratio of 16.97 and a beta of 0.81. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94.

Flushing Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.96%. Flushing Financial’s dividend payout ratio is presently 101.15%.

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.