Hotchkis & Wiley Capital Management LLC Cuts Holdings in Flushing Financial Co. (NASDAQ:FFIC)

Hotchkis & Wiley Capital Management LLC reduced its position in Flushing Financial Co. (NASDAQ:FFIC) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 734,368 shares of the bank’s stock after selling 39,000 shares during the period. Hotchkis & Wiley Capital Management LLC owned 2.53% of Flushing Financial worth $10,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Flushing Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank’s stock valued at $20,295,000 after purchasing an additional 5,933 shares during the last quarter. Dana Investment Advisors Inc. lifted its holdings in shares of Flushing Financial by 11.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank’s stock valued at $5,960,000 after acquiring an additional 46,800 shares during the last quarter. American Century Companies Inc. grew its position in Flushing Financial by 16.1% in the second quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock worth $5,947,000 after acquiring an additional 62,659 shares in the last quarter. Acadian Asset Management LLC grew its position in Flushing Financial by 38.1% in the second quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank’s stock worth $4,874,000 after acquiring an additional 102,219 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Flushing Financial during the third quarter worth approximately $4,936,000. 67.10% of the stock is owned by institutional investors.

Flushing Financial Price Performance

NASDAQ:FFIC opened at $17.76 on Thursday. The firm has a market capitalization of $516.28 million, a price-to-earnings ratio of 20.16 and a beta of 0.78. Flushing Financial Co. has a 1 year low of $10.74 and a 1 year high of $18.59. The business has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $14.41. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Friday, December 6th. Flushing Financial’s dividend payout ratio is currently 101.15%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.50.

Insider Buying and Selling

In related news, Director Sam Sang Ki Han sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $15.47, for a total transaction of $154,700.00. Following the completion of the sale, the director now directly owns 67,251 shares of the company’s stock, valued at approximately $1,040,372.97. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Astrid Burrowes sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the sale, the chief accounting officer now directly owns 34,853 shares of the company’s stock, valued at $564,270.07. This represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.31% of the stock is owned by corporate insiders.

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.