Flushing Financial (NASDAQ:FFIC) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Flushing Financial (NASDAQ:FFIC) released its quarterly earnings results on Tuesday. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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

Shares of FFIC stock traded down $0.37 on Tuesday, hitting $14.32. 269,046 shares of the stock traded hands, compared to its average volume of 353,250. The company has a market capitalization of $482.01 million, a PE ratio of 16.46 and a beta of 0.81. The company’s fifty day moving average is $15.62 and its 200 day moving average is $15.07. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. Flushing Financial has a 1-year low of $10.74 and a 1-year high of $18.59.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.22 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.88 annualized dividend and a dividend yield of 6.15%. Flushing Financial’s payout ratio is 101.15%.

Insider Buying and Selling at Flushing Financial

In related news, Director Sam Sang Ki Han sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 owns 67,251 shares in the company, 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 SEC, which is available through this hyperlink. Also, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the completion of the sale, the chief accounting officer now directly owns 34,853 shares in the company, valued at $564,270.07. This 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 owned by insiders.

Analysts Set New Price Targets

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

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.