Cwm LLC Cuts Position in Flushing Financial Corporation $FFIC

Cwm LLC cut its holdings in Flushing Financial Corporation (NASDAQ:FFIC) by 42.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,754 shares of the bank’s stock after selling 10,246 shares during the quarter. Cwm LLC’s holdings in Flushing Financial were worth $163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 purchasing an additional 161,133 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of 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 buying an additional 174,970 shares in the last quarter. Patriot Financial Partners GP LP grew its stake in shares of Flushing Financial by 21.1% in the 1st quarter. Patriot Financial Partners GP LP now owns 575,000 shares of the bank’s stock worth $7,302,000 after buying an additional 100,000 shares in the last quarter. Invesco Ltd. grew its stake in shares of 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 buying an additional 198,233 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Flushing Financial by 104.3% in the 1st quarter. Millennium Management LLC now owns 523,080 shares of the bank’s stock worth $6,643,000 after buying an additional 267,013 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on FFIC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Flushing Financial in a research report on Tuesday, October 14th. Zacks Research upgraded Flushing Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Flushing Financial has an average rating of “Reduce”.

Flushing Financial Stock Up 4.3%

Shares of NASDAQ:FFIC opened at $13.41 on Friday. The business has a 50 day simple moving average of $13.63 and a two-hundred day simple moving average of $12.72. Flushing Financial Corporation has a 1 year low of $10.65 and a 1 year high of $18.59. 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 market capitalization of $452.99 million, a PE ratio of -11.27 and a beta of 0.79.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Tuesday, February 15th. The bank reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $54.81 million during the quarter. Flushing Financial had a positive return on equity of 4.98% and a negative net margin of 6.93%. On average, equities analysts predict that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, September 5th. Flushing Financial’s payout ratio is currently -73.95%.

About Flushing Financial

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.