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

Several other hedge funds have also recently bought and sold shares of FFIC. Wellington Management Group LLP purchased a new stake in Flushing Financial in the 4th quarter worth about $4,166,000. Invesco Ltd. lifted its stake in Flushing Financial by 57.7% in the 1st quarter. Invesco Ltd. now owns 541,904 shares of the bank's stock worth $6,882,000 after acquiring an additional 198,233 shares in the last quarter. Millennium Management LLC lifted its stake in Flushing Financial by 332.8% in the 4th quarter. Millennium Management LLC now owns 256,067 shares of the bank's stock worth $3,657,000 after acquiring an additional 196,907 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in Flushing Financial by 26.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 839,438 shares of the bank's stock worth $10,661,000 after acquiring an additional 174,970 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Flushing Financial by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 1,895,886 shares of the bank's stock worth $24,078,000 after acquiring an additional 161,133 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Stock Down 0.2%

Shares of FFIC traded down $0.03 during midday trading on Friday, reaching $14.10. 269,838 shares of the stock were exchanged, compared to its average volume of 181,602. Flushing Financial Corporation has a 12-month low of $10.65 and a 12-month high of $18.59. The firm has a 50 day simple moving average of $12.82 and a 200-day simple moving average of $12.53. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. The company has a market cap of $476.30 million, a price-to-earnings ratio of -11.85 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last posted 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. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%.The company had revenue of $58.92 million during the quarter, compared to the consensus estimate of $60.13 million. Research analysts forecast that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.2%. Flushing Financial's dividend payout ratio (DPR) is -73.95%.

Analysts Set New Price Targets

Separately, Zacks Research raised Flushing Financial from a "strong sell" rating to a "hold" rating in a research note on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Flushing Financial presently has a consensus rating of "Hold".

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.