Flushing Financial Corporation $FFIC Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in Flushing Financial Corporation (NASDAQ:FFIC) by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 476,031 shares of the bank’s stock after acquiring an additional 81,497 shares during the period. AQR Capital Management LLC owned approximately 1.41% of Flushing Financial worth $6,046,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Aigen Investment Management LP acquired a new stake in shares of Flushing Financial in the first quarter worth approximately $127,000. Squarepoint Ops LLC acquired a new stake in shares of Flushing Financial in the fourth quarter worth approximately $147,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Flushing Financial in the fourth quarter worth approximately $167,000. Cerity Partners LLC acquired a new stake in shares of Flushing Financial in the first quarter worth approximately $191,000. Finally, Corebridge Financial Inc. boosted its position in shares of Flushing Financial by 14.1% in the first quarter. Corebridge Financial Inc. now owns 15,627 shares of the bank’s stock worth $198,000 after acquiring an additional 1,931 shares during the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Flushing Financial Stock Down 0.2%

Shares of NASDAQ FFIC opened at $14.10 on Friday. Flushing Financial Corporation has a 12-month low of $10.65 and a 12-month high of $18.59. The company has a market cap of $476.30 million, a P/E ratio of -11.85 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 stock has a fifty day moving average price of $12.82 and a 200 day moving average price of $12.53.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Thursday, July 24th. The bank reported $0.32 EPS for the quarter, topping 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 business had revenue of $58.92 million for the quarter, compared to analysts’ expectations of $60.13 million. Research analysts anticipate that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

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

Analyst Ratings Changes

Separately, Zacks Research raised shares of Flushing Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average 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.