Flushing Financial Corporation $FFIC Position Boosted by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Flushing Financial Corporation by 26.3%, now holding approximately 2.49% of the company, worth around $10.66 million.
• Flushing Financial reported an EPS of $0.32 for the last quarter, exceeding estimates, while also declaring a $0.22 quarterly dividend with a yield of 6.6%.
• The stock opened at $13.41 and has a market capitalization of approximately $452.99 million, indicating notable fluctuations with a 52-week range of $10.65 to $18.59.

Hotchkis & Wiley Capital Management LLC boosted its stake in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 26.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 839,438 shares of the bank's stock after acquiring an additional 174,970 shares during the period. Hotchkis & Wiley Capital Management LLC owned 2.49% of Flushing Financial worth $10,661,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Flushing Financial during the 4th quarter worth approximately $73,000. Fortress Investment Group LLC acquired a new position in Flushing Financial during the fourth quarter worth about $143,000. Aigen Investment Management LP purchased a new stake in Flushing Financial in the 1st quarter valued at approximately $127,000. Squarepoint Ops LLC purchased a new stake in shares of Flushing Financial in the fourth quarter valued at $147,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in Flushing Financial in the 4th quarter valued at about $167,000. Hedge funds and other institutional investors own 67.10% of the company's stock.

Flushing Financial Stock Performance

Shares of NASDAQ FFIC traded down $0.01 during trading on Thursday, reaching $13.68. The stock had a trading volume of 146,226 shares, compared to its average volume of 280,307. The stock has a market cap of $462.11 million, a PE ratio of -11.50 and a beta of 0.84. Flushing Financial Corporation has a one year low of $10.65 and a one year high of $18.59. The firm's 50 day moving average price is $12.40 and its two-hundred day moving average price is $12.61. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted its quarterly earnings results 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. On average, research analysts forecast 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. Shareholders of record on Friday, September 5th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Friday, September 5th. Flushing Financial's dividend payout ratio (DPR) is presently -73.95%.

Analysts Set New Price Targets

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

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.