Flushing Financial Corporation $FFIC is Patriot Financial Partners GP LP's 9th Largest Position

Key Points

• Patriot Financial Partners GP LP increased its stake in Flushing Financial Corporation by 21.1%, owning 575,000 shares after acquiring an additional 100,000 shares.
• The recent quarterly earnings report showed Flushing Financial with $0.32 EPS, exceeding expectations, though revenue came in lower than anticipated at $58.92 million.
• Flushing Financial declared a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 7.0%.

Patriot Financial Partners GP LP lifted its holdings in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 21.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 575,000 shares of the bank's stock after purchasing an additional 100,000 shares during the quarter. Flushing Financial accounts for 2.5% of Patriot Financial Partners GP LP's holdings, making the stock its 9th largest position. Patriot Financial Partners GP LP owned 1.70% of Flushing Financial worth $7,302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Flushing Financial in the 4th quarter valued at $73,000. Aigen Investment Management LP acquired a new stake in Flushing Financial in the first quarter valued at about $127,000. Fortress Investment Group LLC bought a new position in Flushing Financial in the fourth quarter valued at about $143,000. Squarepoint Ops LLC bought a new position in Flushing Financial in the fourth quarter valued at about $147,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Flushing Financial during the fourth quarter worth about $167,000. 67.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Flushing Financial Trading Up 5.6%

Shares of FFIC stock traded up $0.7050 during trading hours on Friday, hitting $13.3850. 104,705 shares of the company's stock traded hands, compared to its average volume of 281,678. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. Flushing Financial Corporation has a 12 month low of $10.65 and a 12 month high of $18.59. The stock has a market cap of $452.15 million, a PE ratio of -11.25 and a beta of 0.84. The stock's 50 day simple moving average is $12.23 and its 200 day simple moving average is $12.63.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its earnings results 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 business had revenue of $58.92 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate 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. 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 annualized dividend and a dividend yield of 6.6%. Flushing Financial's dividend payout ratio is presently -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.