Trexquant Investment LP Sells 86,424 Shares of Flushing Financial Corporation $FFIC

Key Points

• Trexquant Investment LP reduced its stake in Flushing Financial Corporation by 61.1%, selling 86,424 shares during the first quarter, resulting in ownership of 55,069 shares valued at approximately $699,000.
• Flushing Financial recently announced a quarterly dividend of $0.22, with a yield of 6.5%, set to be paid on September 26th.
• The bank reported $0.32 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.29, despite a net margin of -7.13% and revenue of $58.92 million.

Trexquant Investment LP reduced its stake in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 61.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,069 shares of the bank's stock after selling 86,424 shares during the quarter. Trexquant Investment LP owned about 0.16% of Flushing Financial worth $699,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. CWM LLC boosted its stake in Flushing Financial by 79.2% in the first quarter. CWM LLC now owns 24,000 shares of the bank's stock valued at $305,000 after acquiring an additional 10,610 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Flushing Financial by 28.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,853 shares of the bank's stock valued at $227,000 after acquiring an additional 3,934 shares during the last quarter. Squarepoint Ops LLC bought a new position in Flushing Financial in the fourth quarter valued at approximately $147,000. Y Intercept Hong Kong Ltd boosted its stake in Flushing Financial by 37.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 23,106 shares of the bank's stock valued at $293,000 after acquiring an additional 6,348 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Flushing Financial by 12.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 265,152 shares of the bank's stock valued at $3,367,000 after acquiring an additional 30,178 shares during the last quarter. 67.10% of the stock is owned by institutional investors.

Flushing Financial Price Performance

Shares of FFIC stock opened at $13.54 on Monday. Flushing Financial Corporation has a 52-week low of $10.65 and a 52-week high of $18.59. The stock has a market cap of $457.38 million, a PE ratio of -11.38 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. The firm's 50 day moving average price is $12.68 and its two-hundred day moving average price is $12.52.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $58.92 million for the quarter, compared to analysts' expectations of $60.13 million. As a group, analysts forecast that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

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 paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a yield of 6.5%. Flushing Financial's dividend payout ratio (DPR) is presently -73.95%.

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.

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