Flushing Financial Corporation $FFIC Shares Sold by Teton Advisors Inc.

Key Points

• Teton Advisors Inc. has reduced its stake in Flushing Financial Corporation by 16.6%, currently holding 196,000 shares valued at approximately $2.49 million.
• Flushing Financial recently reported an EPS of $0.32 for the last quarter, exceeding analysts' expectations of $0.29, although its revenue fell short of estimates at $58.92 million.
• The company declared a quarterly dividend of $0.22 per share, yielding 6.6%, with payments set for September 26th to stockholders of record on September 5th.

Teton Advisors Inc. lowered its position in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 196,000 shares of the bank's stock after selling 39,000 shares during the period. Flushing Financial makes up approximately 1.6% of Teton Advisors Inc.'s investment portfolio, making the stock its 15th largest holding. Teton Advisors Inc. owned 0.58% of Flushing Financial worth $2,489,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Quarry LP purchased a new stake in Flushing Financial in the 4th quarter worth approximately $73,000. Fortress Investment Group LLC purchased a new stake in Flushing Financial during the fourth quarter worth $143,000. Aigen Investment Management LP acquired a new stake in Flushing Financial during the first quarter valued at $127,000. Squarepoint Ops LLC acquired a new position in shares of Flushing Financial in the fourth quarter worth about $147,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Flushing Financial during the 4th quarter worth about $167,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

Flushing Financial Price Performance

FFIC opened at $13.3210 on Tuesday. The firm has a market cap of $449.96 million, a price-to-earnings ratio of -11.19 and a beta of 0.84. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The stock's 50-day moving average price is $12.31 and its 200 day moving average price is $12.59. 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, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $58.92 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.88 annualized dividend and a dividend yield of 6.6%. Flushing Financial's payout ratio 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.

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