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 each, totaling $129,520. Following this transaction, Burrowes now holds 34,853 shares valued at approximately $564,270.07. This marks a 0.00% reduction in her total holdings. The details of this trade have been publicly disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).

Flushing Financial Stock Performance

On Friday, shares of Flushing Financial Co. traded down by $0.29, reaching a price of $15.38. The trading volume stood at 96,705 shares, which is lower than the average volume of 181,705 shares. Over the past 12 months, the stock has experienced a low of $10.74 and a high of $18.00. The company's quick ratio and current ratio are both 1.01, while its debt-to-equity ratio is 1.98. With a market capitalization of $447.10 million, Flushing Financial's price-to-earnings ratio is 17.68, and it has a beta of 0.76. The stock's 50-day moving average is $14.49, and its 200-day moving average is $13.49.

Recent Earnings Report

Flushing Financial recently announced its quarterly earnings on July 29th, reporting earnings per share (EPS) of $0.18 for the quarter, which met analysts' expectations. The bank achieved a return on equity of 3.75% and a net margin of 5.48%. The reported revenue was $117.45 million, surpassing the expected revenue of $46.96 million. In the same quarter last year, the bank had reported $0.26 EPS. Analysts predict that Flushing Financial Co. will generate an EPS of 0.75 for the current fiscal year.

Dividend Announcement

In addition to the earnings report, Flushing Financial declared a quarterly dividend that was distributed on September 27th. Shareholders on record as of September 6th received a dividend of $0.22 per share. This equates to an annualized dividend of $0.88, providing a yield of 5.72%. The ex-dividend date for this payment was also September 6th. The company's dividend payout ratio stands at 101.15%.

Analyst Ratings and Price Targets

Several analysts have provided their views on Flushing Financial's stock. On July 31st, Raymond James increased its price target from $16.00 to $17.00 while giving the stock an "outperform" rating. Keefe, Bruyette & Woods raised their target from $13.00 to $15.00 with a "market perform" rating. Meanwhile, Piper Sandler downgraded Flushing Financial from an "overweight" rating to "neutral," although they adjusted the price target from $15.00 to $16.50. StockNews.com has upgraded the stock from a "sell" to a "hold" rating. Currently, there are four analysts giving a hold rating and one issuing a buy rating, which culminates in a consensus rating of "Hold" with an average price target of $15.50.

Institutional Investors and Hedge Funds

A number of institutional investors have modified their stakes in Flushing Financial. Nisa Investment Advisors LLC significantly increased its holdings by 4,000% during the third quarter. They now own 2,050 shares, valued around $30,000, after acquiring 2,000 additional shares. Other notable investments include Allspring Global Investments Holdings LLC, which established a new position valued at approximately $32,000, and EntryPoint Capital LLC, which acquired shares worth about $35,000. Presently, 67.10% of the stock is owned by institutional investors.

About Flushing Financial

Flushing Financial Corporation serves as the bank holding company for Flushing Bank, which offers banking products and services to consumers, businesses, and government entities. The bank provides a range of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit.

Burrowes, Shares, Flushing