Insider Selling: Flushing Financial Co. (NASDAQ:FFIC) CAO Sells 8,000 Shares of Stock

Flushing Financial Co. (NASDAQ:FFIC) CAO Astrid Burrowes sold 8,000 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now owns 34,853 shares in the company, valued at $564,270.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Flushing Financial Price Performance

Flushing Financial stock opened at $15.38 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. The company has a 50-day moving average price of $14.55 and a 200 day moving average price of $13.55. Flushing Financial Co. has a 12-month low of $10.74 and a 12-month high of $18.00. The stock has a market cap of $447.10 million, a P/E ratio of 17.68 and a beta of 0.75.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, September 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.72%. Flushing Financial’s dividend payout ratio is currently 101.15%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Flushing Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank’s stock worth $20,295,000 after acquiring an additional 5,933 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Flushing Financial by 0.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,209,250 shares of the bank’s stock valued at $15,249,000 after buying an additional 11,285 shares during the period. Dana Investment Advisors Inc. raised its holdings in Flushing Financial by 11.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 453,198 shares of the bank’s stock valued at $5,960,000 after buying an additional 46,800 shares during the period. American Century Companies Inc. lifted its position in Flushing Financial by 16.1% in the second quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock valued at $5,947,000 after buying an additional 62,659 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Flushing Financial by 38.1% during the second quarter. Acadian Asset Management LLC now owns 370,758 shares of the bank’s stock worth $4,874,000 after buying an additional 102,219 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FFIC shares. StockNews.com upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods increased their price objective on shares of Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Raymond James boosted their target price on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler cut Flushing Financial from an “overweight” rating to a “neutral” rating and increased their price target for the company from $15.00 to $16.50 in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.