nVerses Capital LLC Has $43,000 Stock Holdings in Flushing Financial Co. (NASDAQ:FFIC)

nVerses Capital LLC reduced its stake in Flushing Financial Co. (NASDAQ:FFIC) by 78.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,300 shares of the bank’s stock after selling 12,200 shares during the period. nVerses Capital LLC’s holdings in Flushing Financial were worth $43,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FFIC. Acadian Asset Management LLC acquired a new position in shares of Flushing Financial in the first quarter valued at about $3,385,000. Assenagon Asset Management S.A. increased its holdings in shares of Flushing Financial by 290.9% during the first quarter. Assenagon Asset Management S.A. now owns 114,404 shares of the bank’s stock worth $1,443,000 after purchasing an additional 85,139 shares during the period. Empowered Funds LLC raised its position in shares of Flushing Financial by 183.4% in the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock valued at $1,025,000 after buying an additional 52,627 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Flushing Financial in the first quarter valued at approximately $385,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Flushing Financial during the first quarter worth approximately $264,000. 67.10% of the stock is owned by institutional investors.

Flushing Financial Trading Down 0.8 %

NASDAQ FFIC opened at $13.94 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $405.22 million, a price-to-earnings ratio of 13.94 and a beta of 0.76. Flushing Financial Co. has a one year low of $10.74 and a one year high of $18.00. The business’s fifty day moving average is $14.00 and its 200-day moving average is $12.89.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. The firm had revenue of $117.45 million for the quarter, compared to the consensus estimate of $46.96 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. Equities research analysts predict that Flushing Financial Co. will post 0.71 EPS for the current year.

Flushing Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.31%. The ex-dividend date of this dividend is Friday, September 6th. Flushing Financial’s payout ratio is 88.00%.

Analysts Set New Price Targets

A number of research firms recently commented on FFIC. Raymond James boosted their price target on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler cut Flushing Financial from an “overweight” rating to a “neutral” rating and increased their price target for the company from $15.00 to $16.50 in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.50.

Insider Activity at Flushing Financial

In related news, COO Maria A. Grasso sold 4,500 shares of Flushing Financial stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now owns 83,238 shares in the company, valued at approximately $1,122,880.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.31% of the stock is owned by insiders.

Flushing Financial 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.