Martin & Co. Inc. TN Trims Stock Position in Flushing Financial Co. (NASDAQ:FFIC)

Martin & Co. Inc. TN trimmed its holdings in Flushing Financial Co. (NASDAQ:FFIC) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 55,381 shares of the bank’s stock after selling 4,457 shares during the period. Martin & Co. Inc. TN’s holdings in Flushing Financial were worth $791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FFIC. Verition Fund Management LLC purchased a new stake in shares of Flushing Financial in the third quarter valued at about $4,936,000. Stieven Capital Advisors L.P. purchased a new stake in shares of Flushing Financial in the fourth quarter valued at about $3,344,000. GSA Capital Partners LLP raised its holdings in shares of Flushing Financial by 59.3% in the third quarter. GSA Capital Partners LLP now owns 107,142 shares of the bank’s stock valued at $1,562,000 after buying an additional 39,872 shares during the last quarter. Fourthstone LLC purchased a new stake in shares of Flushing Financial in the third quarter valued at about $510,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Flushing Financial in the fourth quarter valued at about $450,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Stock Up 0.7 %

NASDAQ FFIC opened at $15.00 on Monday. Flushing Financial Co. has a 52-week low of $10.74 and a 52-week high of $18.59. The firm has a 50-day moving average price of $14.71 and a 200 day moving average price of $14.97. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. On average, equities research analysts predict that Flushing Financial Co. will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 6th. This represents a $0.88 annualized dividend and a yield of 5.87%. Flushing Financial’s payout ratio is currently -87.13%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Flushing Financial has an average rating of “Hold” and a consensus target price of $15.50.

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.