Flushing Financial (NASDAQ:FFIC) EVP Sells $20,543.37 in Stock

Flushing Financial Corporation (NASDAQ:FFIC) EVP Thomas Buonaiuto sold 1,311 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $15.67, for a total transaction of $20,543.37. Following the completion of the sale, the executive vice president owned 37,039 shares of the company’s stock, valued at $580,401.13. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Thomas Buonaiuto also recently made the following trade(s):

• On Monday, February 2nd, Thomas Buonaiuto sold 1,570 shares of Flushing Financial stock. The stock was sold at an average price of $16.20, for a total value of $25,434.00.

Flushing Financial Price Performance

NASDAQ:FFIC opened at $16.69 on Friday. Flushing Financial Corporation has a 12-month low of $10.65 and a 12-month high of $17.79. The firm has a market capitalization of $563.75 million, a price-to-earnings ratio of 30.91 and a beta of 0.83. The stock’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $14.52. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, January 27th. The bank reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Flushing Financial had a return on equity of 5.96% and a net margin of 3.86%.The business had revenue of $58.81 million for the quarter, compared to analyst estimates of $62.27 million. On average, analysts anticipate that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 5.3%. Flushing Financial’s dividend payout ratio is presently 162.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen lowered shares of Flushing Financial from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Raymond James Financial downgraded Flushing Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Keefe, Bruyette & Woods increased their target price on Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Zacks Research cut Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Flushing Financial in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Flushing Financial presently has an average rating of “Reduce” and an average target price of $16.80.

Institutional Investors Weigh In On Flushing Financial

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Flushing Financial by 75.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after buying an additional 1,650 shares in the last quarter. Allworth Financial LP lifted its position in shares of Flushing Financial by 306.0% during the 4th quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock valued at $60,000 after acquiring an additional 2,977 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Flushing Financial by 37.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock worth $96,000 after purchasing an additional 2,194 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Flushing Financial in the third quarter worth $147,000. Finally, ProShare Advisors LLC acquired a new position in Flushing Financial in the third quarter valued at about $152,000. 67.10% of the stock is currently owned by institutional investors.

About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.