Invesco Ltd. Purchases 198,233 Shares of Flushing Financial Corporation $FFIC

Key Points

• Invesco Ltd. increased its holdings in Flushing Financial Corporation by 57.7% in Q1, owning 1.60% of the company valued at $6.88 million after acquiring additional shares.
• Flushing Financial recently reported an earnings per share (EPS) of $0.32, surpassing the consensus estimate of $0.29, despite a negative net margin of 7.13%.
• The company declared a quarterly dividend of $0.22 per share, which will be paid on September 26, resulting in an annualized yield of 6.5% for investors.

Invesco Ltd. lifted its position in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 57.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 541,904 shares of the bank's stock after purchasing an additional 198,233 shares during the period. Invesco Ltd. owned about 1.60% of Flushing Financial worth $6,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Flushing Financial by 9.3% in the first quarter. Vanguard Group Inc. now owns 1,895,886 shares of the bank's stock worth $24,078,000 after purchasing an additional 161,133 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 acquiring an additional 36,845 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Flushing Financial by 153.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 825,708 shares of the bank's stock valued at $11,791,000 after acquiring an additional 499,821 shares in the last quarter. Foundry Partners LLC grew its stake in Flushing Financial by 11.8% during the first quarter. Foundry Partners LLC now owns 352,110 shares of the bank's stock valued at $4,472,000 after acquiring an additional 37,095 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Flushing Financial by 76.8% during the fourth quarter. Two Sigma Investments LP now owns 298,948 shares of the bank's stock valued at $4,269,000 after acquiring an additional 129,830 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Price Performance

FFIC stock traded up $0.08 during trading on Monday, hitting $13.76. 166,221 shares of the company's stock traded hands, compared to its average volume of 208,612. Flushing Financial Corporation has a 52 week low of $10.65 and a 52 week high of $18.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The business has a fifty day simple moving average of $12.49 and a 200 day simple moving average of $12.56. The stock has a market capitalization of $464.79 million, a price-to-earnings 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, research analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, September 5th. This represents a $0.88 annualized dividend and a yield of 6.4%. Flushing Financial's dividend payout ratio (DPR) is -73.95%.

Wall Street Analyst Weigh In

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 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.