Astrid Burrowes Sells 8,000 Shares of Flushing Financial Co. (NASDAQ:FFIC) Stock

Astrid Burrowes, the Chief Accounting Officer (CAO) of Flushing Financial Co. (NASDAQ:FFIC), sold 8,000 shares of the company’s stock on Thursday, October 31st. The shares were sold at an average price of $16.19, resulting in a total transaction amounting to $129,520.00. After this sale, Burrowes now owns 34,853 shares in Flushing Financial, which have an approximate value of $564,270.07. Following this transaction, her ownership position in the company decreased by 0.00%. This transaction was disclosed in a filing with the Securities and Exchange Commission (SEC) and is accessible through their website.

Flushing Financial Stock Performance

On Friday, Flushing Financial’s stock traded down by $0.29, reaching a price of $15.38 per share. The trading volume for the day was 96,705 shares, compared to the average volume of 181,705 shares. Over the past year, Flushing Financial has seen its stock priced at a low of $10.74 and a high of $18.00. The company reports a quick ratio of 1.01, a current ratio of 1.01, and a debt-to-equity ratio of 1.98. Its market capitalization stands at $447.10 million, with a price-to-earnings ratio of 17.68 and a beta of 0.76. Additionally, its 50-day moving average is $14.49 and the 200-day moving average is $13.49.

Flushing Financial Earnings Report

Flushing Financial recently reported its quarterly earnings on Monday, July 29th. For the quarter, the company posted earnings per share (EPS) of $0.18, aligning with analysts' expectations. The bank recorded a return on equity of 3.75% and a net margin of 5.48%. The company generated revenue of $117.45 million during this quarter, surpassing analysts’ anticipations of $46.96 million. In the same quarter last year, Flushing Financial reported an EPS of $0.26. Analysts predict that Flushing Financial will report an EPS of 0.75 for the current fiscal year.

Flushing Financial Dividend Announcement

Flushing Financial recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders who were on record as of Friday, September 6th received a dividend of $0.22 per share. This dividend represents an annualized total of $0.88, equating to a yield of 5.72%. The ex-dividend date for this payment was also September 6th. The company's dividend payout ratio currently stands at 101.15%.

Price Target Outlook from Analysts

Several equity research analysts have shared their insights and adjusted their price targets for Flushing Financial stock. Raymond James recently raised its price target from $16.00 to $17.00 and has given the stock an “outperform” rating. Keefe, Bruyette & Woods also increased their target price from $13.00 to $15.00 with a “market perform” rating. Meanwhile, Piper Sandler downgraded Flushing Financial from “overweight” to “neutral,” raising the price target from $15.00 to $16.50. Additionally, StockNews.com improved its rating for the company from “sell” to “hold.” Currently, four research analysts categorize the stock as a hold, while one recommends a buy. According to MarketBeat, the consensus rating for Flushing Financial stands at “Hold,” with an average price target set at $15.50.

Hedge Fund Activity in Flushing Financial

Recently, various hedge funds and institutional investors have modified their stakes in Flushing Financial. For instance, Nisa Investment Advisors LLC significantly increased its position in the third quarter by 4000%, now holding 2,050 shares worth approximately $30,000 after purchasing an additional 2,000 shares. Allspring Global Investments Holdings LLC acquired a new stake valued at about $32,000 during the first quarter. Other investors include EntryPoint Capital LLC and Point72 Asia Singapore Pte. Ltd., who both bought new positions earlier this year. Approximately 67.10% of Flushing Financial's stock is owned by institutional investors.

Company Overview

Flushing Financial Corporation acts as the bank holding company for Flushing Bank, providing various banking products and services primarily to consumers, businesses, and governmental entities. The bank offers a range of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.

Flushing, Financial, Stocks