AlphaQuest LLC Sells 10,381 Shares of Flushing Financial Co. (NASDAQ:FFIC)

AlphaQuest LLC lessened its holdings in 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 period. AlphaQuest LLC’s holdings in Flushing Financial were worth $243,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Dana Investment Advisors Inc. grew its holdings in shares of Flushing Financial by 5.1% during the 4th quarter. Dana Investment Advisors Inc. now owns 426,060 shares of the bank’s stock valued at $6,084,000 after purchasing an additional 20,558 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Flushing Financial during the fourth quarter worth $249,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Flushing Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 234,974 shares of the bank’s stock worth $3,355,000 after buying an additional 1,738 shares in the last quarter. US Bancorp DE increased its holdings in shares of Flushing Financial by 496.0% during the fourth quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock worth $53,000 after buying an additional 3,100 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Flushing Financial by 36.0% in the 4th quarter. Bank of New York Mellon Corp now owns 257,765 shares of the bank’s stock valued at $3,681,000 after acquiring an additional 68,260 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Trading Up 0.7 %

Shares of NASDAQ FFIC opened at $13.10 on Friday. The firm has a 50 day moving average price of $14.28 and a two-hundred day moving average price of $15.04. The stock has a market cap of $442.48 million, a P/E ratio of -12.97 and a beta of 0.79. Flushing Financial Co. has a 52-week low of $10.74 and a 52-week high of $18.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts forecast that Flushing Financial Co. will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Flushing Financial

In other news, EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 32,336 shares of the company’s stock, valued at approximately $417,781.12. This represents a 17.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.31% of the company’s stock.

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.