Flushing Financial (NASDAQ:FFIC) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a sell rating in a research note published on Tuesday morning.

Flushing Financial Stock Performance

NASDAQ:FFIC opened at $17.54 on Tuesday. The company has a market capitalization of $509.89 million, a price-to-earnings ratio of 20.16 and a beta of 0.78. The business has a 50 day moving average of $15.93 and a 200 day moving average of $14.38. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. Flushing Financial has a 1-year low of $10.74 and a 1-year high of $18.59.

Flushing Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Friday, December 6th. Flushing Financial’s dividend payout ratio is currently 101.15%.

Insider Buying and Selling

In other news, Director Sam Sang Ki Han sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $15.47, for a total transaction of $154,700.00. Following the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at approximately $1,040,372.97. This trade represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Astrid Burrowes sold 8,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $16.19, for a total value of $129,520.00. Following the completion of the sale, the chief accounting officer now directly owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. 6.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FFIC. Verition Fund Management LLC bought a new stake in Flushing Financial in the 3rd quarter worth $4,936,000. AQR Capital Management LLC grew 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. Acadian Asset Management LLC increased its holdings in Flushing Financial by 38.1% during the 2nd quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank’s stock valued at $4,874,000 after purchasing an additional 102,219 shares during the period. American Century Companies Inc. raised its position in Flushing Financial by 16.1% during the 2nd quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock valued at $5,947,000 after purchasing an additional 62,659 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Flushing Financial by 41.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock worth $2,121,000 after buying an additional 46,871 shares during the period. Institutional investors own 67.10% of the company’s stock.

Flushing Financial Company Profile

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.