Invesco Ltd. Has $6.88 Million Holdings in Flushing Financial Corporation $FFIC

Invesco Ltd. grew its stake in shares of Flushing Financial Corporation (NASDAQ:FFIC) by 57.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,904 shares of the bank’s stock after acquiring an additional 198,233 shares during the period. Invesco Ltd. owned 1.60% of Flushing Financial worth $6,882,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in Flushing Financial by 12.8% during 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Flushing Financial by 9.3% in the first quarter. Vanguard Group Inc. now owns 1,895,886 shares of the bank’s stock valued at $24,078,000 after buying an additional 161,133 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of Flushing Financial in the first quarter valued at approximately $409,000. Y Intercept Hong Kong Ltd raised its position in shares of 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 in the last quarter. Finally, Foundry Partners LLC raised its position in shares of Flushing Financial by 11.8% in the first quarter. Foundry Partners LLC now owns 352,110 shares of the bank’s stock valued at $4,472,000 after buying an additional 37,095 shares in the last quarter. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 8th.

Flushing Financial Stock Up 1.8%

Shares of FFIC opened at $13.58 on Wednesday. Flushing Financial Corporation has a one year low of $10.65 and a one year high of $18.59. The company has a market cap of $458.73 million, a P/E ratio of -11.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $12.35 and a two-hundred day simple moving average of $12.60.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 EPS for the quarter, beating the consensus estimate 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 business 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 fiscal year.

Flushing Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, September 5th. Flushing Financial’s payout ratio is currently -73.95%.

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.