Cubist Systematic Strategies LLC Grows Position in Flushing Financial Corporation $FFIC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Flushing Financial Corporation by 29.3% in Q1, owning approximately 154,398 shares valued at $1.96 million.
• The company recently declared a quarterly dividend of $0.22 per share, with a dividend yield of 6.5%, scheduled to be paid on September 26th.
• Flushing Financial reported Q2 earnings of $0.32 per share, exceeding analyst estimates of $0.29, despite a revenue of $58.92 million that was below expectations.

Cubist Systematic Strategies LLC lifted its holdings in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 29.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 154,398 shares of the bank's stock after acquiring an additional 35,018 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.46% of Flushing Financial worth $1,961,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FFIC. Aigen Investment Management LP purchased a new stake in Flushing Financial in the first quarter valued at approximately $127,000. Fortress Investment Group LLC purchased a new stake in Flushing Financial in the fourth quarter valued at approximately $143,000. Squarepoint Ops LLC purchased a new stake in Flushing Financial in the fourth quarter valued at approximately $147,000. Sherbrooke Park Advisers LLC purchased a new stake in Flushing Financial in the fourth quarter valued at approximately $167,000. Finally, Cerity Partners LLC purchased a new stake in Flushing Financial in the first quarter valued at approximately $191,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Flushing Financial from a "strong sell" rating to a "hold" rating in a report on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Flushing Financial Price Performance

NASDAQ FFIC traded up $0.23 during mid-day trading on Thursday, hitting $14.00. The stock had a trading volume of 135,143 shares, compared to its average volume of 275,299. The firm's 50 day moving average is $12.77 and its 200 day moving average is $12.53. Flushing Financial Corporation has a twelve month low of $10.65 and a twelve month high of $18.59. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $472.92 million, a price-to-earnings ratio of -11.76 and a beta of 0.83.

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, beating the consensus estimate of $0.29 by $0.03. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%.The firm had revenue of $58.92 million during the quarter, compared to the consensus estimate of $60.13 million. Equities research analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

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

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.