Maria A. Grasso Sells 4,500 Shares of Flushing Financial Co. (NASDAQ:FFIC) Stock

Flushing Financial Co. (NASDAQ:FFIC) COO Maria A. Grasso sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total value of $60,705.00. Following the completion of the transaction, the chief operating officer now directly owns 83,238 shares in the company, valued at approximately $1,122,880.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Flushing Financial Stock Performance

NASDAQ FFIC opened at $13.45 on Friday. The stock has a market capitalization of $390.98 million, a PE ratio of 13.45 and a beta of 0.77. The business has a 50 day simple moving average of $13.56 and a two-hundred day simple moving average of $12.84. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.97 and a quick ratio of 0.97. Flushing Financial Co. has a 1-year low of $10.74 and a 1-year high of $18.00.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings results on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same quarter last year, the business posted $0.26 EPS. On average, research analysts predict that Flushing Financial Co. will post 0.73 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Friday, September 6th. Flushing Financial’s dividend payout ratio is presently 88.00%.

Wall Street Analysts Forecast Growth

FFIC has been the topic of several recent research reports. Piper Sandler downgraded Flushing Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $15.00 to $16.50 in a research note on Tuesday, July 30th. StockNews.com cut Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Raymond James increased their target price on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods increased their target price on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Flushing Financial currently has an average rating of “Hold” and an average target price of $15.50.

Hedge Funds Weigh In On Flushing Financial

Several institutional investors have recently added to or reduced their stakes in FFIC. BNP Paribas Financial Markets grew its holdings in Flushing Financial by 23.9% during the 4th quarter. BNP Paribas Financial Markets now owns 23,217 shares of the bank’s stock valued at $383,000 after buying an additional 4,476 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Flushing Financial in the 4th quarter worth approximately $307,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Flushing Financial in the 1st quarter worth approximately $32,000. Assenagon Asset Management S.A. boosted its holdings in shares of Flushing Financial by 290.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 114,404 shares of the bank’s stock worth $1,443,000 after purchasing an additional 85,139 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Flushing Financial in the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Flushing Financial

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.