Caterina Depasquale Sells 1,200 Shares of Flushing Financial Corp. (FFIC) Stock
Flushing Financial Corp. (NASDAQ:FFIC) SVP Caterina Depasquale sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $22.87, for a total transaction of $27,444.00. Following the sale, the senior vice president now directly owns 16,599 shares in the company, valued at approximately $379,619.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Flushing Financial Corp. (NASDAQ:FFIC) opened at 23.58 on Friday. The stock has a market capitalization of $684.32 million, a price-to-earnings ratio of 10.91 and a beta of 0.92. Flushing Financial Corp. has a 12 month low of $18.95 and a 12 month high of $23.78. The stock’s 50 day moving average is $22.79 and its 200-day moving average is $21.27.
Flushing Financial Corp. (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm earned $79.61 million during the quarter, compared to the consensus estimate of $43.87 million. Flushing Financial Corp. had a return on equity of 9.21% and a net margin of 24.28%. The firm’s revenue was up 65.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. On average, equities research analysts expect that Flushing Financial Corp. will post $1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.68 annualized dividend and a dividend yield of 2.88%. Flushing Financial Corp.’s payout ratio is 31.48%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Flushing Financial Corp. during the fourth quarter valued at about $7,725,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in Flushing Financial Corp. by 1.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 32,070 shares of the company’s stock valued at $693,000 after buying an additional 425 shares during the last quarter. Geode Capital Management LLC boosted its position in Flushing Financial Corp. by 0.7% in the first quarter. Geode Capital Management LLC now owns 217,618 shares of the company’s stock valued at $4,704,000 after buying an additional 1,599 shares during the last quarter. Wellington Management Group LLP boosted its position in Flushing Financial Corp. by 1.4% in the first quarter. Wellington Management Group LLP now owns 2,725,898 shares of the company’s stock valued at $58,933,000 after buying an additional 38,723 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Flushing Financial Corp. by 133,115.4% in the first quarter. Royal Bank of Canada now owns 69,272 shares of the company’s stock valued at $1,498,000 after buying an additional 69,220 shares during the last quarter. 76.88% of the stock is owned by institutional investors.
A number of research firms have weighed in on FFIC. Sandler O’Neill cut shares of Flushing Financial Corp. from a “buy” rating to a “hold” rating and raised their price objective for the stock from $23.00 to $24.00 in a report on Wednesday, August 31st. Keefe, Bruyette & Woods raised their price objective on shares of Flushing Financial Corp. from $21.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Zacks Investment Research raised shares of Flushing Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Tuesday, August 30th. Finally, Gabelli started coverage on shares of Flushing Financial Corp. in a report on Wednesday, June 29th. They set a “buy” rating and a $27.00 price objective on the stock.
About Flushing Financial Corp.
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank owns three subsidiaries: Flushing Preferred Funding Corporation (FPFC), Flushing Service Corporation, and FSB Properties Inc (Properties).
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