Thomas Buonaiuto Sells 1,311 Shares of Flushing Financial (NASDAQ:FFIC) Stock

Flushing Financial Corporation (NASDAQ:FFIC) EVP Thomas Buonaiuto sold 1,311 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $15.67, for a total transaction of $20,543.37. Following the transaction, the executive vice president owned 37,039 shares in the company, valued at $580,401.13. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $25,434.00.

Flushing Financial Trading Up 1.7%

Shares of FFIC opened at $16.89 on Thursday. 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 Corporation has a fifty-two week low of $10.65 and a fifty-two week high of $17.79. The firm has a 50 day moving average price of $16.15 and a 200-day moving average price of $14.50. The firm has a market cap of $570.54 million, a price-to-earnings ratio of 31.28 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $58.81 million during the quarter, compared to analysts’ expectations of $62.27 million. Flushing Financial had a return on equity of 5.96% and a net margin of 3.86%. As a group, equities research analysts forecast that Flushing Financial Corporation will post 1.2 earnings per share for the current 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 of this dividend was Friday, December 5th. Flushing Financial’s payout ratio is 162.96%.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently modified their holdings of FFIC. Wellington Management Group LLP raised its holdings in Flushing Financial by 586.8% in the third quarter. Wellington Management Group LLP now owns 1,786,993 shares of the bank’s stock worth $24,678,000 after purchasing an additional 1,526,793 shares in the last quarter. Patriot Financial Partners GP II L.P. purchased a new stake in shares of Flushing Financial in the 3rd quarter worth about $9,322,000. CSM Advisors LLC bought a new position in shares of Flushing Financial in the 2nd quarter worth about $4,080,000. Millennium Management LLC increased its stake in shares of Flushing Financial by 104.3% in the 1st quarter. Millennium Management LLC now owns 523,080 shares of the bank’s stock worth $6,643,000 after acquiring an additional 267,013 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Flushing Financial by 91.1% during the 3rd quarter. Alliancebernstein L.P. now owns 375,832 shares of the bank’s stock valued at $5,190,000 after acquiring an additional 179,150 shares during the period. 67.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James Financial cut Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Flushing Financial in a research note on Monday, December 29th. Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen cut shares of Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target 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.