Nuveen LLC Acquires Shares of 98,907 Flushing Financial Corporation $FFIC

Key Points

• Nuveen LLC recently acquired 98,907 shares of Flushing Financial Corporation valued at approximately $1,256,000, representing about 0.29% ownership.
• Wall Street Zen upgraded Flushing Financial from a "sell" rating to a "hold" rating, indicating a more favorable outlook on the stock.
• Flushing Financial announced a quarterly dividend of $0.22, with an annualized yield of 6.4%, set to be paid on September 26th.

Nuveen LLC bought a new position in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,907 shares of the bank's stock, valued at approximately $1,256,000. Nuveen LLC owned approximately 0.29% of Flushing Financial at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its holdings in shares of Flushing Financial by 79.2% in the 1st quarter. CWM LLC now owns 24,000 shares of the bank's stock worth $305,000 after buying an additional 10,610 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Flushing Financial by 28.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,853 shares of the bank's stock worth $227,000 after buying an additional 3,934 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Flushing Financial in the 4th quarter worth approximately $147,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Flushing Financial by 37.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 23,106 shares of the bank's stock worth $293,000 after buying an additional 6,348 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Flushing Financial by 12.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 265,152 shares of the bank's stock worth $3,367,000 after buying an additional 30,178 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Flushing Financial Price Performance

FFIC stock traded down $0.04 during midday trading on Thursday, reaching $13.67. 64,037 shares of the company's stock traded hands, compared to its average volume of 277,183. The company has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $12.57. Flushing Financial Corporation has a 1-year low of $10.65 and a 1-year high of $18.59. The company has a market cap of $461.68 million, a price-to-earnings ratio of -11.48 and a beta of 0.83. 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 (NASDAQ:FFIC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%.The firm had revenue of $58.92 million during the quarter, compared to analysts' expectations of $60.13 million. On average, analysts anticipate that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

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