Bank of America Corp DE lessened its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 14.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 30,068 shares of the bank’s stock after selling 5,065 shares during the period. Bank of America Corp DE’s holdings in Flushing Financial were worth $785,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC increased its holdings in Flushing Financial by 11.4% during the second quarter. Renaissance Technologies LLC now owns 541,060 shares of the bank’s stock valued at $14,122,000 after buying an additional 55,500 shares during the period. First Trust Advisors LP increased its holdings in Flushing Financial by 19.6% during the second quarter. First Trust Advisors LP now owns 40,316 shares of the bank’s stock valued at $1,052,000 after buying an additional 6,613 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Flushing Financial by 7.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 152,914 shares of the bank’s stock valued at $3,992,000 after buying an additional 10,563 shares during the period. Dimensional Fund Advisors LP increased its holdings in Flushing Financial by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,401,298 shares of the bank’s stock valued at $62,674,000 after buying an additional 18,321 shares during the period. Finally, Mackay Shields LLC increased its holdings in Flushing Financial by 19.0% during the second quarter. Mackay Shields LLC now owns 50,107 shares of the bank’s stock valued at $1,308,000 after buying an additional 8,000 shares during the period. 78.27% of the stock is owned by hedge funds and other institutional investors.

NASDAQ FFIC opened at $22.67 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.15 and a current ratio of 1.15. Flushing Financial Co. has a 12-month low of $20.34 and a 12-month high of $29.81. The firm has a market capitalization of $638.15 million, a price-to-earnings ratio of 14.44, a PEG ratio of 1.10 and a beta of 0.90.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.06. Flushing Financial had a net margin of 18.44% and a return on equity of 9.27%. The business had revenue of $46.48 million for the quarter, compared to analyst estimates of $44.70 million. Sell-side analysts anticipate that Flushing Financial Co. will post 1.85 EPS for the current year.

Several equities analysts recently issued reports on the stock. ValuEngine raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Friday, August 24th. BidaskClub raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Zacks Investment Research raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $26.50 price target on shares of Flushing Financial in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $29.38.

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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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.

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Want to see what other hedge funds are holding FFIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flushing Financial Co. (NASDAQ:FFIC).

Institutional Ownership by Quarter for Flushing Financial (NASDAQ:FFIC)

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