Thomas Buonaiuto Sells 1,570 Shares of Flushing Financial (NASDAQ:FFIC) Stock

Flushing Financial Corporation (NASDAQ:FFIC) EVP Thomas Buonaiuto sold 1,570 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the sale, the executive vice president owned 35,469 shares of the company’s stock, valued at $574,597.80. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $15.67, for a total value of $20,543.37.

Flushing Financial Price Performance

Shares of NASDAQ FFIC opened at $16.89 on Thursday. The firm has a market cap of $570.54 million, a PE ratio of 31.28 and a beta of 0.83. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $16.15 and a two-hundred day moving average price of $14.50. Flushing Financial Corporation has a fifty-two week low of $10.65 and a fifty-two week high of $17.79.

Flushing Financial (NASDAQ:FFIC) last released its quarterly 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 company had revenue of $58.81 million for the quarter, compared to analyst estimates of $62.27 million. Sell-side analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Friday, December 5th. Flushing Financial’s dividend payout ratio is 162.96%.

Hedge Funds Weigh In On Flushing Financial

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

Analysts Set New Price Targets

Several analysts recently weighed in on FFIC shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Flushing Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods upped their price target 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. Zacks Research cut 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 research note on Wednesday, December 31st. Finally, Wall Street Zen cut shares of Flushing Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $16.80.

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.