Charles Schwab Investment Management Inc. Has $3.37 Million Stock Holdings in Flushing Financial Corporation $FFIC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Flushing Financial Corporation by 12.8%, now owning 265,152 shares valued at approximately $3.37 million.
• Flushing Financial recently declared a quarterly dividend of $0.22, which represents an annualized dividend yield of 6.4%, with a payout ratio of -73.95%.
• The company's earnings for the last quarter beat expectations, reporting $0.32 earnings per share, although revenue was slightly below analysts' predictions at $58.92 million.

Charles Schwab Investment Management Inc. grew its stake in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 265,152 shares of the bank's stock after purchasing an additional 30,178 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.79% of Flushing Financial worth $3,367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of FFIC. Fortress Investment Group LLC bought a new stake in shares of Flushing Financial in the 4th quarter valued at approximately $143,000. Squarepoint Ops LLC bought a new stake in shares of Flushing Financial in the 4th quarter valued at approximately $147,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Flushing Financial in the 4th quarter valued at approximately $167,000. PDT Partners LLC bought a new stake in shares of Flushing Financial in the 4th quarter valued at approximately $169,000. Finally, Cerity Partners LLC bought a new stake in shares of Flushing Financial in the 1st quarter valued at approximately $191,000. 67.10% of the stock is currently owned by institutional investors.

Flushing Financial Price Performance

Shares of NASDAQ:FFIC traded up $0.11 during trading on Thursday, reaching $13.82. The stock had a trading volume of 147,442 shares, compared to its average volume of 189,860. Flushing Financial Corporation has a 52 week low of $10.65 and a 52 week high of $18.59. The business's 50-day moving average price is $12.65 and its 200 day moving average price is $12.56. 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 $466.84 million, a PE ratio of -11.61 and a beta of 0.83.

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

Flushing Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.4%. Flushing Financial's payout ratio is -73.95%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Flushing Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th.

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.