Rafferty Asset Management LLC grew its position in Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 64.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,050 shares of the bank's stock after buying an additional 18,439 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.14% of Flushing Financial worth $598,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in FFIC. Aigen Investment Management LP acquired a new position in shares of Flushing Financial in the first quarter worth about $127,000. Fortress Investment Group LLC acquired a new position in shares of Flushing Financial in the fourth quarter worth about $143,000. Squarepoint Ops LLC acquired a new position in shares of Flushing Financial in the fourth quarter worth about $147,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Flushing Financial in the fourth quarter worth about $167,000. Finally, Cerity Partners LLC acquired a new position in shares of Flushing Financial in the first quarter worth about $191,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.
Flushing Financial Stock Performance
FFIC stock opened at $13.72 on Wednesday. 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 stock has a market cap of $463.46 million, a P/E ratio of -11.53 and a beta of 0.83. The firm has a 50 day simple moving average of $12.56 and a 200 day simple moving average of $12.56. Flushing Financial Corporation has a 52 week low of $10.65 and a 52 week high of $18.59.
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, topping the consensus estimate of $0.29 by $0.03. The business had revenue of $58.92 million during the quarter, compared to analysts' expectations of $60.13 million. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. Research analysts anticipate that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.
Flushing Financial Dividend Announcement
The firm 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. The ex-dividend date is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a yield of 6.4%. Flushing Financial's payout ratio is -73.95%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of Flushing Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.
Read Our Latest Stock Report on FFIC
About Flushing Financial
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding FFIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flushing Financial Corporation (NASDAQ:FFIC - Free Report).
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