Strs Ohio Purchases Shares of 39,800 Flushing Financial Corporation $FFIC

Key Points

• Strs Ohio acquired a new position in Flushing Financial Corporation, purchasing 39,800 shares valued at approximately $505,000 during the first quarter.
• Flushing Financial recently announced a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 6.2%.
• Despite the dividend announcement, Flushing Financial's stock has experienced a decline of 1.4%, with shares opening at $14.19.

Strs Ohio bought a new stake in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,800 shares of the bank's stock, valued at approximately $505,000. Strs Ohio owned about 0.12% of Flushing Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Flushing Financial by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,813 shares of the bank's stock valued at $226,000 after acquiring an additional 684 shares during the last quarter. Royal Bank of Canada grew its position in Flushing Financial by 9.1% in the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank's stock valued at $222,000 after acquiring an additional 1,453 shares during the last quarter. Corebridge Financial Inc. grew its position in Flushing Financial by 14.1% in the first quarter. Corebridge Financial Inc. now owns 15,627 shares of the bank's stock valued at $198,000 after acquiring an additional 1,931 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Flushing Financial by 28.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,853 shares of the bank's stock valued at $227,000 after acquiring an additional 3,934 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Flushing Financial by 37.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 23,106 shares of the bank's stock valued at $293,000 after acquiring an additional 6,348 shares during the last quarter. Institutional investors own 67.10% of the company's stock.

Flushing Financial Trading Down 0.8%

Shares of NASDAQ:FFIC traded down $0.11 during midday trading on Monday, hitting $14.08. 185,876 shares of the stock were exchanged, compared to its average volume of 215,169. The business's 50-day moving average price is $13.01 and its 200 day moving average price is $12.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $475.62 million, a price-to-earnings ratio of -11.83 and a beta of 0.83. Flushing Financial Corporation has a 12 month low of $10.65 and a 12 month high of $18.59.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The company had revenue of $58.92 million for the quarter, compared to analyst estimates of $60.13 million. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%. Analysts predict that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, September 5th. Flushing Financial's payout ratio is currently -73.95%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Flushing Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold".

Flushing Financial Company 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.