Jacobs Levy Equity Management Inc. Buys 110,745 Shares of Flushing Financial Co. (NASDAQ:FFIC)

Jacobs Levy Equity Management Inc. boosted its stake in Flushing Financial Co. (NASDAQ:FFIC) by 943.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,480 shares of the bank’s stock after purchasing an additional 110,745 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.36% of Flushing Financial worth $1,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in FFIC. R Squared Ltd purchased a new stake in shares of Flushing Financial in the 4th quarter valued at about $28,000. US Bancorp DE raised its holdings in shares of Flushing Financial by 496.0% in the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock valued at $53,000 after acquiring an additional 3,100 shares in the last quarter. Quarry LP purchased a new stake in shares of Flushing Financial in the 4th quarter valued at about $73,000. New York State Common Retirement Fund raised its holdings in shares of Flushing Financial by 27.8% in the 4th quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock valued at $92,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Flushing Financial in the 4th quarter valued at about $141,000. Institutional investors own 67.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Flushing Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 8th.

Flushing Financial Stock Performance

NASDAQ:FFIC opened at $13.00 on Friday. The business’s 50-day moving average price is $12.34 and its two-hundred day moving average price is $14.34. Flushing Financial Co. has a twelve month low of $10.65 and a twelve month high of $18.59. The stock has a market cap of $439.10 million, a P/E ratio of -12.87 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, April 29th. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $58.10 million for the quarter, compared to analysts’ expectations of $55.38 million. Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. As a group, equities analysts predict that Flushing Financial Co. will post 1.2 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.77%. Flushing Financial’s dividend payout ratio is -61.97%.

Insider Activity at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 6,800 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total transaction of $87,856.00. Following the transaction, the executive vice president now directly owns 32,336 shares of the company’s stock, valued at approximately $417,781.12. This trade represents a 17.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.31% of the stock is currently owned by insiders.

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. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.