Key Points
- Thomas Buonaiuto, EVP of Flushing Financial, sold a total of 2,881 shares in two transactions (1,311 on Jan 30 at $15.67 and 1,570 on Feb 2 at $16.20) for roughly $45,977, reducing his stake by 3.42% to 37,039 shares.
- Flushing Financial recently missed quarterly estimates (EPS $0.32 vs. $0.35 consensus; revenue $58.8M vs. $62.3M) and pays a $0.22 quarterly dividend (annualized yield 5.3%) despite a high dividend payout ratio of 162.96%.
Flushing Financial Corporation (NASDAQ:FFIC - Get Free Report) EVP Thomas Buonaiuto sold 1,311 shares of the business's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $15.67, for a total value of $20,543.37. Following the transaction, the executive vice president directly owned 37,039 shares of the company's stock, valued at $580,401.13. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Thomas Buonaiuto also recently made the following trade(s):
- On Monday, February 2nd, Thomas Buonaiuto sold 1,570 shares of Flushing Financial stock. The stock was sold at an average price of $16.20, for a total value of $25,434.00.
Flushing Financial Stock Up 2.8%
Shares of FFIC stock opened at $16.61 on Wednesday. Flushing Financial Corporation has a 12 month low of $10.65 and a 12 month high of $17.79. 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 firm has a market cap of $561.09 million, a PE ratio of 30.76 and a beta of 0.83. The stock has a 50 day moving average of $16.14 and a 200-day moving average of $14.49.
Flushing Financial (NASDAQ:FFIC - Get Free Report) last released its earnings results on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $58.81 million for the quarter, compared to analyst estimates of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.96%. On average, equities analysts predict that Flushing Financial Corporation will post 1.2 EPS 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 given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 5.3%. Flushing Financial's dividend payout ratio (DPR) is 162.96%.
Institutional Trading of Flushing Financial
Several large investors have recently added to or reduced their stakes in FFIC. CSM Advisors LLC acquired a new position in Flushing Financial in the second quarter worth $4,080,000. Y Intercept Hong Kong Ltd increased its stake in shares of Flushing Financial by 396.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 114,595 shares of the bank's stock valued at $1,361,000 after buying an additional 91,489 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Flushing Financial by 34.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 31,466 shares of the bank's stock valued at $374,000 after buying an additional 8,083 shares during the last quarter. AlphaQuest LLC lifted its position in Flushing Financial by 102,390.5% during the 2nd quarter. AlphaQuest LLC now owns 21,523 shares of the bank's stock worth $256,000 after buying an additional 21,502 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Flushing Financial by 202.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 40,512 shares of the bank's stock worth $481,000 after buying an additional 27,096 shares in the last quarter. 67.10% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on FFIC. Keefe, Bruyette & Woods boosted 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 downgraded shares of Flushing Financial from a "buy" rating to a "hold" rating in a report on Sunday, November 9th. Raymond James Financial cut shares of Flushing Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, December 31st. Zacks Research downgraded Flushing Financial from a "strong-buy" rating to a "hold" rating in a report on Monday, December 29th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Flushing Financial in a report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $16.80.
Check Out Our Latest Report on Flushing Financial
About Flushing Financial
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
