Flushing Financial Co. (NASDAQ:FFIC) COO Sells $60,705.00 in Stock

Flushing Financial Co. (NASDAQ:FFIC) COO Maria A. Grasso sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now owns 83,238 shares in the company, valued at approximately $1,122,880.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Flushing Financial Stock Up 8.0 %

Shares of NASDAQ:FFIC opened at $14.53 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The stock has a fifty day simple moving average of $13.61 and a two-hundred day simple moving average of $12.83. Flushing Financial Co. has a 12-month low of $10.74 and a 12-month high of $18.00. The stock has a market capitalization of $422.37 million, a price-to-earnings ratio of 14.53 and a beta of 0.77.

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

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a $0.22 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.88 annualized dividend and a dividend yield of 6.06%. Flushing Financial’s dividend payout ratio is presently 88.00%.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently made changes to their positions in FFIC. Deerfield Management Company L.P. Series C lifted its position in Flushing Financial by 64.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 66,357 shares of the bank’s stock valued at $873,000 after acquiring an additional 26,067 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Flushing Financial by 531.8% in the second quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock worth $4,292,000 after purchasing an additional 274,720 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flushing Financial during the second quarter valued at $61,000. Cubist Systematic Strategies LLC boosted its position in shares of Flushing Financial by 1.3% during the second quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank’s stock valued at $896,000 after buying an additional 907 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Flushing Financial by 20.3% in the 2nd quarter. Sei Investments Co. now owns 142,004 shares of the bank’s stock worth $1,867,000 after buying an additional 24,008 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.