Gamco Investors INC. ET AL Trims Position in Flushing Financial Corporation $FFIC

Key Points

• Gamco Investors INC. ET AL has reduced its stake in Flushing Financial Corporation by 5.0%, holding approximately $13.85 million worth of 1,090,325 shares after the sale.
• The company recently announced a quarterly dividend of $0.22, which reflects an annualized dividend yield of 6.5%.
• Flushing Financial's recent earnings report showed a positive earnings per share of $0.32, surpassing analysts’ expectations of $0.29.

Gamco Investors INC. ET AL trimmed its holdings in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,090,325 shares of the bank's stock after selling 57,050 shares during the quarter. Gamco Investors INC. ET AL owned approximately 3.23% of Flushing Financial worth $13,847,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FFIC. Wells Fargo & Company MN grew its position in Flushing Financial by 21.1% during the fourth quarter. Wells Fargo & Company MN now owns 20,168 shares of the bank's stock valued at $288,000 after buying an additional 3,520 shares during the period. Barclays PLC grew its position in Flushing Financial by 10.7% during the fourth quarter. Barclays PLC now owns 57,359 shares of the bank's stock valued at $819,000 after buying an additional 5,526 shares during the period. Dimensional Fund Advisors LP grew its position in Flushing Financial by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,755,762 shares of the bank's stock valued at $25,072,000 after buying an additional 36,845 shares during the period. MetLife Investment Management LLC grew its position in Flushing Financial by 22.2% during the fourth quarter. MetLife Investment Management LLC now owns 16,755 shares of the bank's stock valued at $239,000 after buying an additional 3,049 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Flushing Financial by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,780 shares of the bank's stock worth $1,011,000 after purchasing an additional 2,361 shares during the period. 67.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Flushing Financial Price Performance

Shares of NASDAQ:FFIC traded up $0.08 during midday trading on Monday, reaching $13.76. 166,221 shares of the company were exchanged, compared to its average volume of 208,612. 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 business's fifty day moving average is $12.49 and its two-hundred day moving average is $12.56. Flushing Financial Corporation has a one year low of $10.65 and a one year high of $18.59. The stock has a market cap of $464.79 million, a PE ratio of -11.56 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last released 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. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. The business had revenue of $58.92 million during the quarter, compared to analyst estimates of $60.13 million. As a group, 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 of this dividend is Friday, September 5th. This represents a $0.88 annualized dividend and a dividend yield of 6.4%. Flushing Financial's dividend 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.