Ieq Capital LLC Invests $565,000 in Flushing Financial Corporation $FFIC

Key Points

• Ieq Capital LLC has acquired a new stake in Flushing Financial Corporation, purchasing 44,471 shares valued at approximately $565,000.
• Flushing Financial recently declared a quarterly dividend of $0.22, with an annualized dividend yield of 6.4% for investors of record.
• Following recent performance, Flushing Financial's earnings report exceeded expectations, with an EPS of $0.32 compared to the consensus estimate of $0.29.

Ieq Capital LLC acquired a new position in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 44,471 shares of the bank's stock, valued at approximately $565,000. Ieq Capital LLC owned 0.13% of Flushing Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fortress Investment Group LLC acquired a new stake in shares of Flushing Financial in the 4th quarter valued at about $143,000. Aigen Investment Management LP acquired a new stake in shares of Flushing Financial during the 1st quarter valued at $127,000. Squarepoint Ops LLC acquired a new position in shares of Flushing Financial in the fourth quarter worth $147,000. Sherbrooke Park Advisers LLC bought a new stake in Flushing Financial during the fourth quarter valued at about $167,000. Finally, Cerity Partners LLC acquired a new position in Flushing Financial in the first quarter worth about $191,000. Institutional investors and hedge funds own 67.10% of the company's stock.

Flushing Financial Stock Down 0.1%

NASDAQ FFIC traded down $0.02 on Monday, reaching $13.53. The company had a trading volume of 94,399 shares, compared to its average volume of 275,916. The firm has a market capitalization of $456.87 million, a price-to-earnings ratio of -11.35 and a beta of 0.83. 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 Corporation has a 1-year low of $10.65 and a 1-year high of $18.59. The company's fifty day moving average is $12.68 and its 200-day moving average is $12.52.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.03. The firm had revenue of $58.92 million during the quarter, compared to the consensus estimate 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, research analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, September 5th. 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.