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 decreased its stake in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 35.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the bank's stock after selling 112,248 shares during the quarter. Curi RMB Capital LLC owned about 0.59% of Flushing Financial worth $2,540,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Aigen Investment Management LP purchased a new stake in Flushing Financial during the 1st quarter valued at about $127,000. Fortress Investment Group LLC purchased a new position in shares of Flushing Financial in the fourth quarter worth about $143,000. Squarepoint Ops LLC purchased a new position in shares of Flushing Financial in the fourth quarter worth about $147,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Flushing Financial in the fourth quarter worth about $167,000. Finally, Cerity Partners LLC purchased a new position in shares of Flushing Financial in the first quarter worth about $191,000. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Stock Performance

Shares of NASDAQ:FFIC traded up $0.09 during trading on Monday, hitting $13.63. The stock had a trading volume of 209,665 shares, compared to its average volume of 188,996. Flushing Financial Corporation has a 12-month low of $10.65 and a 12-month high of $18.59. The stock has a market capitalization of $460.42 million, a price-to-earnings ratio of -11.45 and a beta of 0.83. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. The stock has a 50-day simple moving average of $12.71 and a two-hundred day simple moving average of $12.51.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $58.92 million during the quarter, compared to analysts' expectations of $60.13 million. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%. On average, equities research analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, September 5th. Flushing Financial's dividend payout ratio (DPR) is -73.95%.

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.