AlphaQuest LLC Grows Stake in Flushing Financial Corporation $FFIC

AlphaQuest LLC increased its position in shares of Flushing Financial Corporation (NASDAQ:FFIC) by 102,390.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,523 shares of the bank’s stock after buying an additional 21,502 shares during the period. AlphaQuest LLC owned about 0.06% of Flushing Financial worth $256,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FFIC. Aigen Investment Management LP bought a new position in Flushing Financial during the 1st quarter worth about $127,000. Cerity Partners LLC purchased a new stake in shares of Flushing Financial in the 1st quarter worth approximately $191,000. Corebridge Financial Inc. lifted its position in shares of 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 during the period. Quantbot Technologies LP boosted its stake in shares of Flushing Financial by 64.6% during the first quarter. Quantbot Technologies LP now owns 16,217 shares of the bank’s stock valued at $206,000 after purchasing an additional 6,363 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Flushing Financial by 9.1% during the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank’s stock valued at $222,000 after buying an additional 1,453 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.

Flushing Financial Trading Up 1.9%

NASDAQ FFIC opened at $13.67 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 fifty day simple moving average of $13.64 and a two-hundred day simple moving average of $12.75. 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 market cap of $461.75 million, a P/E ratio of -11.49 and a beta of 0.79.

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

Flushing Financial Announces Dividend

The firm also recently declared 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 6.4%. The ex-dividend date was Friday, September 5th. Flushing Financial’s dividend payout ratio is -73.95%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research raised Flushing Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, September 8th. Wall Street Zen upgraded Flushing Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flushing Financial in a research report on Tuesday, October 14th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

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.