Wealth Enhancement Advisory Services LLC Sells 4,736 Shares of Flushing Financial Corporation $FFIC

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Flushing Financial Corporation (NASDAQ:FFIC) by 26.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,117 shares of the bank’s stock after selling 4,736 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Flushing Financial were worth $167,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of Flushing Financial during the 1st quarter valued at $127,000. Cerity Partners LLC bought a new position in Flushing Financial in the 1st quarter worth about $191,000. Corebridge Financial Inc. boosted its stake in Flushing Financial by 14.1% in the 1st quarter. Corebridge Financial Inc. now owns 15,627 shares of the bank’s stock worth $198,000 after purchasing an additional 1,931 shares in the last quarter. Quantbot Technologies LP boosted its stake in Flushing Financial by 64.6% in the 1st quarter. Quantbot Technologies LP now owns 16,217 shares of the bank’s stock worth $206,000 after purchasing an additional 6,363 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Flushing Financial by 9.1% in the 1st quarter. Royal Bank of Canada now owns 17,472 shares of the bank’s stock worth $222,000 after purchasing an additional 1,453 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Analyst Ratings Changes

FFIC has been the topic of a number of analyst reports. Zacks Research upgraded shares of Flushing Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a research note on Saturday, September 27th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Flushing Financial Price Performance

NASDAQ FFIC opened at $13.41 on Friday. Flushing Financial Corporation has a 52 week low of $10.65 and a 52 week high of $18.59. The firm has a market capitalization of $452.99 million, a P/E ratio of -11.27 and a beta of 0.79. 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 50-day moving average price of $13.44 and a 200-day moving average price of $12.59.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Tuesday, February 15th. The bank reported $0.58 EPS for the quarter. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. The firm had revenue of $54.81 million during the quarter. Equities research analysts anticipate that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend was Friday, September 5th. Flushing Financial’s dividend 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.