Wedge Capital Management L L P NC Buys 6,021 Shares of Flushing Financial Co. (FFIC)

Wedge Capital Management L L P NC raised its stake in shares of Flushing Financial Co. (NASDAQ:FFIC) by 11.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 59,310 shares of the bank’s stock after buying an additional 6,021 shares during the period. Wedge Capital Management L L P NC’s holdings in Flushing Financial were worth $1,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC raised its stake in shares of Flushing Financial by 8.6% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,520,224 shares of the bank’s stock valued at $61,493,000 after buying an additional 198,641 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Flushing Financial by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,401,298 shares of the bank’s stock valued at $62,674,000 after buying an additional 18,321 shares during the last quarter. BlackRock Inc. increased its stake in shares of Flushing Financial by 2.6% in the 2nd quarter. BlackRock Inc. now owns 2,043,495 shares of the bank’s stock valued at $53,336,000 after purchasing an additional 51,056 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Flushing Financial by 2.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,115,367 shares of the bank’s stock valued at $29,111,000 after purchasing an additional 27,321 shares in the last quarter. Finally, Teton Advisors Inc. increased its stake in shares of Flushing Financial by 0.8% in the 2nd quarter. Teton Advisors Inc. now owns 624,372 shares of the bank’s stock valued at $16,296,000 after purchasing an additional 5,002 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company’s stock.

Shares of Flushing Financial stock opened at $23.15 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.32. Flushing Financial Co. has a twelve month low of $20.34 and a twelve month high of $29.81. The stock has a market capitalization of $645.70 million, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.06. Flushing Financial had a return on equity of 9.30% and a net margin of 18.44%. The firm had revenue of $46.48 million during the quarter, compared to analyst estimates of $44.70 million. Analysts forecast that Flushing Financial Co. will post 1.85 earnings per share for the current fiscal year.

FFIC has been the subject of several recent analyst reports. Sandler O’Neill restated a “buy” rating and issued a $30.00 price target on shares of Flushing Financial in a research note on Thursday, July 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.50 price target on shares of Flushing Financial in a research note on Thursday, July 26th. BidaskClub lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Zacks Investment Research lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Finally, ValuEngine lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Flushing Financial presently has a consensus rating of “Hold” and an average price target of $29.10.

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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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