AlphaQuest LLC Has $243,000 Stock Position in Flushing Financial Co. (NASDAQ:FFIC)

AlphaQuest LLC lessened its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 37.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,002 shares of the bank’s stock after selling 10,381 shares during the quarter. AlphaQuest LLC owned approximately 0.05% of Flushing Financial worth $243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new position in shares of Flushing Financial during the 3rd quarter worth approximately $4,936,000. Stieven Capital Advisors L.P. acquired a new position in shares of Flushing Financial in the fourth quarter valued at $3,344,000. Bank of New York Mellon Corp raised its position in shares of Flushing Financial by 36.0% in the fourth quarter. Bank of New York Mellon Corp now owns 257,765 shares of the bank’s stock valued at $3,681,000 after purchasing an additional 68,260 shares during the period. Fourthstone LLC acquired a new stake in shares of Flushing Financial during the 3rd quarter worth about $510,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Flushing Financial during the 4th quarter worth about $450,000. Institutional investors own 67.10% of the company’s stock.

Insider Buying and Selling

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 32,336 shares in the company, valued at approximately $417,781.12. The trade was a 17.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Flushing Financial from a “hold” rating to a “sell” rating in a report on Friday, January 31st.

Flushing Financial Price Performance

Shares of Flushing Financial stock opened at $13.10 on Friday. 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 stock has a market capitalization of $442.48 million, a price-to-earnings ratio of -12.97 and a beta of 0.79. Flushing Financial Co. has a twelve month low of $10.74 and a twelve month high of $18.59. The company has a 50-day simple moving average of $14.28 and a two-hundred day simple moving average of $15.04.

Flushing Financial (NASDAQ:FFIC) last issued 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%. Analysts forecast that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend is Friday, March 14th. Flushing Financial’s dividend payout ratio (DPR) is presently -87.13%.

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.