Y Intercept Hong Kong Ltd Buys 91,489 Shares of Flushing Financial Corporation $FFIC

Y Intercept Hong Kong Ltd raised its stake in Flushing Financial Corporation (NASDAQ:FFIC) by 396.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 114,595 shares of the bank’s stock after purchasing an additional 91,489 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.34% of Flushing Financial worth $1,361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP bought a new stake in Flushing Financial in the first quarter valued at approximately $127,000. Cerity Partners LLC purchased a new position in shares of Flushing Financial during the first quarter valued at approximately $191,000. Corebridge Financial Inc. increased its stake in shares of Flushing Financial by 14.1% during the first quarter. Corebridge Financial Inc. now owns 15,627 shares of the bank’s stock valued at $198,000 after buying an additional 1,931 shares during the period. Quantbot Technologies LP increased 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 buying an additional 6,363 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of 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. Institutional investors own 67.10% of the company’s stock.

Wall Street Analyst Weigh In

FFIC has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Flushing Financial in a research note on Tuesday, October 14th. Wall Street Zen raised Flushing Financial from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research raised Flushing Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Flushing Financial Price Performance

Shares of FFIC stock opened at $13.67 on Monday. The stock has a market cap of $461.75 million, a price-to-earnings ratio of -11.49 and a beta of 0.79. The business’s fifty day moving average is $13.64 and its 200 day moving average is $12.76. Flushing Financial Corporation has a twelve month low of $10.65 and a twelve month high of $18.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Tuesday, February 15th. The bank reported $0.58 earnings per share for the quarter. The company 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%. Research analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Friday, September 5th. Flushing Financial’s dividend payout ratio is presently -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.