Angel Oak Capital Advisors LLC Acquires New Stake in Flushing Financial Co. (NASDAQ:FFIC)

Angel Oak Capital Advisors LLC bought a new position in Flushing Financial Co. (NASDAQ:FFIC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 30,000 shares of the bank’s stock, valued at approximately $428,000. Flushing Financial accounts for about 0.6% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Angel Oak Capital Advisors LLC owned about 0.09% of Flushing Financial as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stieven Capital Advisors L.P. purchased a new position in Flushing Financial in the 4th quarter worth about $3,344,000. Empowered Funds LLC grew its stake in Flushing Financial by 2.8% in the 4th quarter. Empowered Funds LLC now owns 94,908 shares of the bank’s stock worth $1,355,000 after acquiring an additional 2,596 shares in the last quarter. Sageworth Trust Co purchased a new position in shares of Flushing Financial during the fourth quarter worth approximately $143,000. R Squared Ltd bought a new stake in shares of Flushing Financial during the fourth quarter valued at approximately $28,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Flushing Financial in the fourth quarter valued at approximately $219,000. 67.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Price Performance

NASDAQ FFIC opened at $15.00 on Tuesday. The company has a market cap of $504.90 million, a PE ratio of -14.85 and a beta of 0.81. The firm’s 50 day moving average price is $14.67 and its 200-day moving average price is $14.98. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. Flushing Financial Co. has a 52-week low of $10.74 and a 52-week high of $18.59.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. Sell-side analysts forecast that Flushing Financial Co. will post 1.2 EPS for the current fiscal year.

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.