Gabelli Funds LLC Cuts Position in Flushing Financial Corporation $FFIC

Gabelli Funds LLC trimmed its position in shares of Flushing Financial Corporation (NASDAQ:FFIC) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,941 shares of the bank’s stock after selling 35,598 shares during the period. Gabelli Funds LLC owned approximately 1.20% of Flushing Financial worth $4,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Flushing Financial by 37.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock valued at $96,000 after buying an additional 2,194 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Flushing Financial during the first quarter worth about $127,000. Corebridge Financial Inc. boosted its stake 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 valued at $198,000 after purchasing an additional 1,931 shares during the period. Quantbot Technologies LP grew its holdings in shares of Flushing Financial by 64.6% in 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 grew its holdings in shares of Flushing Financial by 9.1% in the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank’s stock valued at $222,000 after purchasing an additional 1,453 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FFIC. Wall Street Zen cut shares of Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Zacks Research upgraded Flushing Financial from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Flushing Financial currently has an average rating of “Moderate Buy”.

Flushing Financial Stock Down 1.7%

Shares of NASDAQ:FFIC opened at $16.52 on Wednesday. The firm has a 50 day simple moving average of $14.63 and a 200-day simple moving average of $13.38. Flushing Financial Corporation has a twelve month low of $10.65 and a twelve month high of $17.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $558.01 million, a PE ratio of -13.88 and a beta of 0.84.

Flushing Financial (NASDAQ:FFIC) last announced 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 6.93% and a positive return on equity of 4.98%. The firm had revenue of $54.81 million for the quarter. On average, equities analysts predict that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, December 5th. Flushing Financial’s payout ratio is presently -73.95%.

Flushing Financial Company 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.