Boston Partners Reduces Stake in Flushing Financial Co. (FFIC)

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Boston Partners lessened its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC) by 13.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,809 shares of the bank’s stock after selling 16,572 shares during the period. Boston Partners’ holdings in Flushing Financial were worth $2,840,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its holdings in shares of Flushing Financial by 6.5% during the 1st quarter. Swiss National Bank now owns 47,723 shares of the bank’s stock valued at $1,287,000 after buying an additional 2,900 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Flushing Financial by 6.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 53,289 shares of the bank’s stock valued at $1,391,000 after buying an additional 3,348 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Flushing Financial by 37.3% during the 1st quarter. Legal & General Group Plc now owns 14,357 shares of the bank’s stock valued at $387,000 after buying an additional 3,899 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Flushing Financial by 9.4% during the 1st quarter. Wells Fargo & Company MN now owns 56,410 shares of the bank’s stock valued at $1,521,000 after buying an additional 4,869 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Flushing Financial by 70.0% during the 1st quarter. Citadel Advisors LLC now owns 12,405 shares of the bank’s stock valued at $334,000 after buying an additional 5,109 shares in the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Flushing Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $26.50 target price on shares of Flushing Financial in a report on Thursday, July 26th. ValuEngine cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Flushing Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, Gabelli upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Flushing Financial currently has an average rating of “Hold” and a consensus price target of $29.10.

Shares of Flushing Financial stock opened at $26.17 on Wednesday. The stock has a market capitalization of $722.38 million, a P/E ratio of 16.36, a PEG ratio of 1.23 and a beta of 0.95. Flushing Financial Co. has a 1 year low of $24.59 and a 1 year high of $31.45. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.32.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The company had revenue of $45.81 million for the quarter, compared to analysts’ expectations of $45.10 million. Flushing Financial had a net margin of 16.32% and a return on equity of 8.45%. analysts expect that Flushing Financial Co. will post 1.86 earnings per share for the current fiscal year.

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

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