Insider Selling: Flushing Financial (NASDAQ:FFIC) EVP Sells $25,434.00 in Stock

Flushing Financial Corporation (NASDAQ:FFIC) EVP Thomas Buonaiuto sold 1,570 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $16.20, for a total transaction of $25,434.00. Following the completion of the sale, the executive vice president owned 35,469 shares in the company, valued at approximately $574,597.80. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, January 30th, Thomas Buonaiuto sold 1,311 shares of Flushing Financial stock. The shares were sold at an average price of $15.67, for a total transaction of $20,543.37.

Flushing Financial Price Performance

Flushing Financial stock opened at $16.69 on Friday. The company’s 50 day simple moving average is $16.16 and its 200-day simple moving average is $14.52. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. Flushing Financial Corporation has a 1 year low of $10.65 and a 1 year high of $17.79. The company has a market capitalization of $563.75 million, a price-to-earnings ratio of 30.91 and a beta of 0.83.

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 the consensus estimate of $0.35 by ($0.03). Flushing Financial had a net margin of 3.86% and a return on equity of 5.96%. The company had revenue of $58.81 million during the quarter, compared to analyst estimates of $62.27 million. As a group, equities research analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

FFIC has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a research note on Monday, December 29th. Zacks Research downgraded shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Raymond James Financial lowered shares of Flushing Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 31st. Keefe, Bruyette & Woods boosted their price target on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Finally, Wall Street Zen lowered Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $16.80.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Flushing Financial by 586.8% in the third quarter. Wellington Management Group LLP now owns 1,786,993 shares of the bank’s stock valued at $24,678,000 after buying an additional 1,526,793 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Flushing Financial by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 813,159 shares of the bank’s stock worth $9,662,000 after buying an additional 18,829 shares during the last quarter. Patriot Financial Partners GP LP boosted its position in shares of Flushing Financial by 17.4% during the 2nd quarter. Patriot Financial Partners GP LP now owns 675,000 shares of the bank’s stock worth $8,019,000 after acquiring an additional 100,000 shares in the last quarter. Patriot Financial Partners GP II L.P. purchased a new position in shares of Flushing Financial in the 3rd quarter valued at about $9,322,000. Finally, Invesco Ltd. raised its position in shares of Flushing Financial by 10.3% during the 2nd quarter. Invesco Ltd. now owns 597,467 shares of the bank’s stock worth $7,098,000 after acquiring an additional 55,563 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other 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.