Flushing Financial Co. (NASDAQ:FFIC) Shares Sold by Hennion & Walsh Asset Management Inc.

VaselineAugust 24, 2024

0 4 minutes read

Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Flushing Financial Co. (NASDAQ:FFIC – Free Report) by 38.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,611 shares of the bank’s stock after selling 7,404 shares during the quarter. Holdings of Hennion & Walsh Asset Management Inc. in Flushing Financial were worth $153,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FFIC. YHB Investment Advisors Inc. purchased a new position in Flushing Financial in the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Flushing Financial in the 1st quarter worth approximately $32,000. CWM LLC boosted its stake in Flushing Financial by 87.0% in the second quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Flushing Financial in the 1st quarter worth $35,000. Finally, Swiss National Bank boosted its position in Flushing Financial by 5.4% in the first quarter. Swiss National Bank now owns 54,223 shares of the bank’s stock worth $684,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s shares.

Analyst upgrades and downgrades

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

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Flushing Financial Stock Performance

NASDAQ FFIC opened at $13.45 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97, and a debt-to-equity ratio of 1.00. The company has a market cap of $390.98 million, a PE ratio of 13.45 and a beta of 0.77. The company’s 50-day moving average price is $13.53 and its 200-day moving average price is $12.83. Flushing Financial Co. has a 12-month low of $10.74 and a 12-month high of $18.00.

Flushing Financial (NASDAQ:FFIC – Get Free Report ) last posted its earnings results on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. In the same period last year, the firm earned $0.26 per share. On average, research analysts predict that Flushing Financial Co. will post 0.73 earnings per share for the current year.

The announcement regarding the flushing financial dividends

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.22 dividend. This represents an annualized dividend of $0.88 and a dividend yield of 6.54%. The ex-dividend date is Friday, September 6. Flushing Financial’s dividend payout ratio (DPR) is currently 88.00%.

Insider trading at Flushing Financial

In other Flushing Financial news, COO Maria A. Grasso sold 4,500 shares of Flushing Financial stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total transaction of $60,705.00. Following the transaction, the chief operating officer now directly owns 83,238 shares of the company’s stock, valued at $1,122,880.62. The sale was disclosed in a filing with the SEC, which is available at this link. 6.31% of shares are held by insiders.

Flushing Financial Profile

(Free report)

Flushing Financial Corporation operates as the bank holding company for Flushing Bank, which provides banking products and services primarily to consumers, businesses and government entities. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing checking accounts, NOW accounts and certificates of deposit.