Insider Selling: Flushing Financial Co. (NASDAQ:FFIC) EVP Sells $87,856.00 in Stock

Flushing Financial Co. (NASDAQ:FFIC) EVP Thomas Buonaiuto sold 6,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $12.92, for a total value of $87,856.00. Following the completion of the sale, the executive vice president now owns 32,336 shares in the company, valued at $417,781.12. The trade was a 17.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Flushing Financial Stock Performance

Shares of FFIC stock opened at $13.10 on Monday. Flushing Financial Co. has a one year low of $10.74 and a one year high of $18.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day simple moving average is $14.28 and its 200 day simple moving average is $15.04. The stock has a market capitalization of $442.48 million, a PE ratio of -12.97 and a beta of 0.79.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a negative net margin of 6.46% and a positive return on equity of 3.25%. As a group, research analysts forecast that Flushing Financial Co. will post 1.2 earnings per share for the current year.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Friday, March 14th. Flushing Financial’s dividend payout ratio (DPR) is presently -87.13%.

Hedge Funds Weigh In On Flushing Financial

Institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Flushing Financial in the fourth quarter valued at approximately $28,000. US Bancorp DE raised its position in shares of Flushing Financial by 496.0% during the fourth quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock worth $53,000 after purchasing an additional 3,100 shares during the period. Quarry LP acquired a new position in shares of Flushing Financial during the fourth quarter worth approximately $73,000. New York State Common Retirement Fund raised its position in shares of Flushing Financial by 27.8% during the fourth quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock worth $92,000 after purchasing an additional 1,400 shares during the period. Finally, FMR LLC raised its position in shares of Flushing Financial by 64.1% during the third quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after purchasing an additional 2,836 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Flushing Financial from a “hold” rating to a “sell” rating in a report on Friday, January 31st.

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.