Flushing Financial Corporation $FFIC Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL decreased its holdings in shares of Flushing Financial Corporation (NASDAQ:FFIC) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 862,950 shares of the bank’s stock after selling 53,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Flushing Financial were worth $13,091,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FFIC. Wellington Management Group LLP lifted its holdings in shares of Flushing Financial by 586.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,786,993 shares of the bank’s stock valued at $24,678,000 after acquiring an additional 1,526,793 shares in the last quarter. Patriot Financial Partners GP II L.P. acquired a new position in shares of Flushing Financial during the 3rd quarter valued at $9,322,000. Millennium Management LLC lifted its holdings in shares of Flushing Financial by 104.3% during the 1st quarter. Millennium Management LLC now owns 523,080 shares of the bank’s stock valued at $6,643,000 after acquiring an additional 267,013 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Flushing Financial by 91.1% during the 3rd quarter. Alliancebernstein L.P. now owns 375,832 shares of the bank’s stock valued at $5,190,000 after acquiring an additional 179,150 shares in the last quarter. Finally, Teton Advisors LLC acquired a new position in shares of Flushing Financial during the 3rd quarter valued at $1,471,000. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $15.63 on Tuesday. Flushing Financial Corporation has a 12 month low of $11.13 and a 12 month high of $17.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $529.54 million, a P/E ratio of 15.63 and a beta of 0.76. The company’s fifty day moving average price is $15.61 and its two-hundred day moving average price is $15.81.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Flushing Financial had a return on equity of 6.25% and a net margin of 7.15%.The firm had revenue of $56.98 million during the quarter, compared to analyst estimates of $61.15 million.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 10th were issued a $0.22 dividend. The ex-dividend date was Friday, April 10th. This represents a $0.88 dividend on an annualized basis and a yield of 5.6%. Flushing Financial’s payout ratio is currently 88.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FFIC. Weiss Ratings upgraded shares of Flushing Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.80.

Insider Buying and Selling

In other news, EVP Thomas Buonaiuto sold 10,778 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $15.96, for a total value of $172,016.88. Following the sale, the executive vice president owned 24,691 shares in the company, valued at approximately $394,068.36. This represents a 30.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.66% of the stock is owned by corporate insiders.

Flushing Financial Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.