Flushing Financial (NASDAQ:FFIC) Shares Pass Above 200-Day Moving Average – Should You Sell?

Flushing Financial Corporation (NASDAQ:FFIC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.24 and traded as high as $15.53. Flushing Financial shares last traded at $15.18, with a volume of 303,293 shares traded.

Analysts Set New Price Targets

FFIC has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Flushing Financial from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods upped their target price on Flushing Financial from $14.50 to $16.80 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Raymond James Financial cut Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.80.

Flushing Financial Stock Down 0.5%

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $509.22 million, a price-to-earnings ratio of 27.83 and a beta of 0.82. The stock has a 50 day moving average of $15.82 and a 200 day moving average of $15.25.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The firm had revenue of $58.81 million for the quarter, compared to analyst estimates of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.95%. As a group, analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Friday, April 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, April 10th. Flushing Financial’s dividend payout ratio is currently 162.96%.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 1,570 shares of Flushing Financial stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the completion of the transaction, the executive vice president owned 35,469 shares of the company’s stock, valued at $574,597.80. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FFIC. Martin & Co. Inc. TN grew its position in shares of Flushing Financial by 1.8% during the 3rd quarter. Martin & Co. Inc. TN now owns 58,449 shares of the bank’s stock valued at $807,000 after buying an additional 1,037 shares during the last quarter. First Trust Advisors LP boosted its stake in Flushing Financial by 5.1% in the second quarter. First Trust Advisors LP now owns 21,621 shares of the bank’s stock valued at $257,000 after acquiring an additional 1,049 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Flushing Financial by 58.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,218 shares during the last quarter. Royal Bank of Canada grew its holdings 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 purchasing an additional 1,453 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Flushing Financial by 75.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after purchasing an additional 1,650 shares during the period. 67.10% of the stock is currently owned by institutional investors.

Flushing Financial Company Profile

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.