Insider Selling: Flushing Financial Co. (NASDAQ:FFIC) CAO Sells 8,000 Shares of Stock

Flushing Financial Co. (NASDAQ:FFIC) CAO Astrid Burrowes sold 8,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the transaction, the chief accounting officer now owns 34,853 shares in the company, valued at approximately $564,270.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Flushing Financial Price Performance

FFIC stock traded down $0.29 during trading on Friday, reaching $15.38. 96,705 shares of the company were exchanged, compared to its average volume of 181,705. Flushing Financial Co. has a twelve month low of $10.74 and a twelve month high of $18.00. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $447.10 million, a price-to-earnings ratio of 17.68 and a beta of 0.76. The company has a 50-day moving average of $14.49 and a two-hundred day moving average of $13.49.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. Flushing Financial had a return on equity of 3.75% and a net margin of 5.48%. During the same period in the prior year, the company earned $0.26 EPS. As a group, equities analysts predict that Flushing Financial Co. will post 0.75 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.88 annualized dividend and a yield of 5.72%. Flushing Financial’s dividend payout ratio is presently 101.15%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Raymond James boosted their price objective on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com raised Flushing Financial from a “sell” rating to a “hold” rating in a report on Monday. Finally, Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $15.00 to $16.50 in a research note on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.50.

Institutional Trading of Flushing Financial

A number of hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Flushing Financial by 1.3% during the second quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank’s stock worth $896,000 after purchasing an additional 907 shares during the period. Nisa Investment Advisors LLC raised its position in Flushing Financial by 4,000.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock worth $30,000 after purchasing an additional 2,000 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Flushing Financial during the 1st quarter worth about $32,000. CWM LLC lifted its holdings in Flushing Financial by 87.0% during the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock worth $73,000 after buying an additional 2,575 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Flushing Financial in the 1st quarter valued at about $35,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.