Flushing Financial (NASDAQ:FFIC) Announces Earnings Results

Flushing Financial (NASDAQ:FFIC) announced its quarterly earnings data on Tuesday. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07), Zacks reports. Flushing Financial had a return on equity of 3.75% and a net margin of 5.48%.

Flushing Financial Stock Performance

NASDAQ FFIC traded down $0.37 during trading hours on Tuesday, reaching $14.32. The stock had a trading volume of 269,046 shares, compared to its average volume of 353,250. The stock has a fifty day moving average of $15.62 and a 200 day moving average of $15.07. The stock has a market cap of $482.01 million, a P/E ratio of 16.46 and a beta of 0.81. Flushing Financial has a 52-week low of $10.74 and a 52-week high of $18.59. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a yield of 6.15%. 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 Flushing Financial stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $15.47, for a total transaction of $154,700.00. Following the completion of the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at $1,040,372.97. The trade was a 12.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $16.19, for a total transaction of $129,520.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Flushing Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.50.

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.