North Star Investment Management Corp. Makes New $876,000 Investment in Flushing Financial Corporation $FFIC

North Star Investment Management Corp. acquired a new stake in Flushing Financial Corporation (NASDAQ:FFIC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 57,000 shares of the bank’s stock, valued at approximately $876,000. North Star Investment Management Corp. owned 0.17% of Flushing Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC boosted its stake in shares of Flushing Financial by 75.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after buying an additional 1,650 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Flushing Financial by 58.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,218 shares during the period. Allworth Financial LP increased its position in Flushing Financial by 306.0% in the 4th quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock valued at $60,000 after acquiring an additional 2,977 shares during the period. Summit Securities Group LLC acquired a new position in Flushing Financial in the 4th quarter valued at about $82,000. Finally, Kestra Advisory Services LLC purchased a new stake in Flushing Financial during the 4th quarter valued at approximately $99,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Flushing Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.80.

Insider Transactions at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 10,778 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $15.96, for a total transaction of $172,016.88. Following the completion of the transaction, the executive vice president directly owned 24,691 shares of the company’s stock, valued at $394,068.36. This represents a 30.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.66% of the stock is owned by corporate insiders.

Flushing Financial Stock Performance

Shares of FFIC opened at $15.48 on Tuesday. The stock has a market capitalization of $524.63 million, a P/E ratio of 15.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.89 and a current ratio of 0.89. Flushing Financial Corporation has a 1 year low of $11.13 and a 1 year high of $17.79. The company’s fifty day moving average is $15.74 and its two-hundred day moving average is $15.84.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Tuesday, April 28th. The bank reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm had revenue of $56.98 million during the quarter, compared to analyst estimates of $61.15 million. Flushing Financial had a return on equity of 6.25% and a net margin of 7.15%.

Flushing Financial Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.