Flushing Financial Corporation $FFIC Shares Sold by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC reduced its stake in Flushing Financial Corporation by 35.9%, now owning $2.54 million worth of shares after selling 112,248 shares in the first quarter.
• Flushing Financial recently announced a quarterly dividend of $0.22 per share, equating to an annualized yield of 6.5%, with the ex-dividend date set for September 5th.
• Despite reporting earnings of $0.32 per share for the last quarter, Flushing Financial's revenue fell short of expectations, generating $58.92 million against an anticipated $60.13 million.

Curi RMB Capital LLC trimmed its position in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 35.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,000 shares of the bank's stock after selling 112,248 shares during the quarter. Curi RMB Capital LLC owned 0.59% of Flushing Financial worth $2,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of Flushing Financial during the 1st quarter worth about $127,000. Fortress Investment Group LLC bought a new position in shares of Flushing Financial during the fourth quarter valued at approximately $143,000. Squarepoint Ops LLC purchased a new stake in shares of Flushing Financial in the fourth quarter worth approximately $147,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Flushing Financial during the 4th quarter worth approximately $167,000. Finally, Cerity Partners LLC bought a new position in Flushing Financial in the 1st quarter valued at $191,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Flushing Financial from a "strong sell" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Flushing Financial Stock Up 2.6%

Shares of NASDAQ:FFIC traded up $0.36 during trading hours on Thursday, hitting $14.13. The company's stock had a trading volume of 282,930 shares, compared to its average volume of 181,001. 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 firm's fifty day moving average price is $12.80 and its 200 day moving average price is $12.53. Flushing Financial Corporation has a 52 week low of $10.65 and a 52 week high of $18.59. The company has a market capitalization of $477.31 million, a price-to-earnings ratio of -11.87 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $60.13 million. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. As a group, research analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a yield of 6.2%. Flushing Financial's payout ratio is currently -73.95%.

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.