Flushing Financial (NASDAQ:FFIC) Stock Passes Above 200 Day Moving Average – Time to Sell?

Flushing Financial Corporation (NASDAQ:FFIC)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $14.66 and traded as high as $16.66. Flushing Financial shares last traded at $16.41, with a volume of 219,493 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on FFIC shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Flushing Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective 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. Wall Street Zen cut Flushing Financial from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Zacks Research lowered Flushing Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Raymond James Financial lowered Flushing Financial from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $16.80.

Flushing Financial Stock Performance

The firm’s 50 day simple moving average is $16.15 and its 200-day simple moving average is $14.66. The company has a market capitalization of $554.33 million, a price-to-earnings ratio of 30.39 and a beta of 0.83. 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 (NASDAQ:FFIC) last issued 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). The business had revenue of $58.81 million for the quarter, compared to analysts’ expectations of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.96%. Analysts expect that Flushing Financial Corporation will post 1.2 EPS for the current year.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.22 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.4%. Flushing Financial’s dividend payout ratio is currently 162.96%.

Insider Activity

In related news, EVP Thomas Buonaiuto sold 1,570 shares of the firm’s stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flushing Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Martin & Co. Inc. TN grew its holdings 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 acquiring an additional 1,037 shares in the last quarter. First Trust Advisors LP boosted its position in Flushing Financial by 5.1% during the second quarter. First Trust Advisors LP now owns 21,621 shares of the bank’s stock valued at $257,000 after purchasing an additional 1,049 shares during the last quarter. Royal Bank of Canada grew its stake in Flushing Financial by 9.1% in 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 in the last quarter. Tower Research Capital LLC TRC increased its position in Flushing Financial by 75.1% in 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 last quarter. Finally, Intech Investment Management LLC increased its position in Flushing Financial by 15.7% in the 3rd quarter. Intech Investment Management LLC now owns 13,457 shares of the bank’s stock worth $186,000 after purchasing an additional 1,826 shares during the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.