Flushing Financial Corporation $FFIC Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Flushing Financial Corporation by 8.9%, selling 26,038 shares, leaving them with 265,711 shares valued at approximately $3.375 million.
• Flushing Financial reported earnings of $0.32 per share for the last quarter, exceeding estimates, while revenues were slightly below analyst expectations at $58.92 million.
• The company has declared a quarterly dividend of $0.22 per share, with a yield of 6.4%, set to be paid on September 26th to shareholders of record as of September 5th.

Wellington Management Group LLP decreased its position in shares of Flushing Financial Corporation (NASDAQ:FFIC - Free Report) by 8.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,711 shares of the bank's stock after selling 26,038 shares during the period. Wellington Management Group LLP owned 0.79% of Flushing Financial worth $3,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its position in shares of Flushing Financial by 79.2% during the first quarter. CWM LLC now owns 24,000 shares of the bank's stock worth $305,000 after purchasing an additional 10,610 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Flushing Financial by 28.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,853 shares of the bank's stock valued at $227,000 after buying an additional 3,934 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Flushing Financial during the 4th quarter valued at about $147,000. Y Intercept Hong Kong Ltd raised 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 buying an additional 6,348 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 worth $3,367,000 after acquiring an additional 30,178 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Flushing Financial Stock Performance

Shares of FFIC stock traded down $0.09 during mid-day trading on Wednesday, reaching $13.64. The stock had a trading volume of 51,831 shares, compared to its average volume of 277,986. Flushing Financial Corporation has a 1-year low of $10.65 and a 1-year high of $18.59. The firm has a market cap of $460.59 million, a price-to-earnings ratio of -11.43 and a beta of 0.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. The business's fifty day moving average is $12.56 and its 200-day moving average is $12.56.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last issued its earnings results on Thursday, July 24th. The bank reported $0.32 EPS 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 for the quarter, compared to analyst estimates of $60.13 million. On average, research analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 dividend yield of 6.5%. Flushing Financial's dividend payout ratio is presently -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.

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.