Fmr LLC Increases Stake in Flushing Financial Co. (NASDAQ: FFIC) by Over 64%

In the third quarter, Fmr LLC significantly raised its ownership in Flushing Financial Co. (NASDAQ:FFIC – Free Report) by 64.1%. This increase was documented in the firm's latest 13F filing with the Securities and Exchange Commission. Following this purchase, Fmr LLC now holds a total of 7,259 shares in the bank, having added 2,836 shares during the quarter. The value of these holdings is reported to be around $106,000 based on the latest SEC filing.

Other institutional investors and hedge funds have also adjusted their positions regarding Flushing Financial. Notably, Nisa Investment Advisors LLC expanded its stake by 4,000.0% in the same quarter, now owning 2,050 shares with an approximate worth of $30,000, thanks to an additional acquisition of 2,000 shares. Point72 Asia Singapore Pte. Ltd. purchased a new stake during the second quarter, estimated at about $61,000, while Perritt Capital Management Inc. invested approximately $132,000 in a new shareholding also in the second quarter. Additionally, Princeton Capital Management LLC and SG Americas Securities LLC both acquired new stakes in the second quarter, with their valuations at approximately $145,000 and $149,000 respectively. Presently, institutional investors collectively own about 67.10% of Flushing Financial's stock.

Insider Transactions

Recent insider trading activity has also been recorded. CAO Astrid Burrowes sold 8,000 shares on October 31st at an average price of $16.19, totaling $129,520. After this transaction, Burrowes now has 34,853 shares, valued at around $564,270. This move decreased her holdings by 18.67%. Furthermore, on November 1st, Director Sam Sang Ki Han sold 10,000 shares at an average price of $15.47, equating to a total of $154,700, which reduced his position by 12.94%. As of now, corporate insiders own 6.31% of the company’s stock.

Current Price Metrics

Flushing Financial's stock opened at $14.11 on the recent Tuesday. The company shows a debt-to-equity ratio of 1.27, along with a quick and current ratio both standing at 0.94. With a market capitalization of $474.93 million, Flushing Financial has a P/E ratio of 16.22 and a beta of 0.78. The stock's 50-day moving average price is around $16.51, while the 200-day moving average price is at $14.70. The 52-week performance reflects a low of $10.74 and a high of $18.59.

Recent Dividend Announcement

Flushing Financial has recently announced a quarterly dividend, which was paid to investors on December 20th. Shareholders on record as of December 6th received a dividend of $0.22 per share, which translates to an annualized dividend of $0.88 and a yield of 6.24%. Importantly, the ex-dividend date was December 6th. The company's current dividend payout ratio stands at 101.15%.

Analyst Insights

In terms of market analyst commentary, StockNews.com upgraded its rating on Flushing Financial from “sell” to “hold” on December 11th. Currently, four research analysts have issued a hold rating for the stock, and one analyst has provided a buy rating. Consistent with this, MarketBeat.com reports that the stock holds a consensus rating of “Hold” along with a price target consensus of $15.50.

Company Overview

Flushing Financial Corporation functions as the parent company of Flushing Bank, delivering a range of banking services and products primarily to individual clients, businesses, and government entities. Their offerings include various deposit products such as checking and savings accounts alongside money market accounts and certificates of deposit.

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