Astoria Financial Corporation (AF) Insider Sells $940,141.88 in Stock
Astoria Financial Corporation (NYSE:AF) insider Monte N. Redman sold 47,434 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $19.82, for a total value of $940,141.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Astoria Financial Corporation (NYSE:AF) traded up 1.02% during midday trading on Wednesday, hitting $19.73. The stock had a trading volume of 297,313 shares. Astoria Financial Corporation has a 52 week low of $14.11 and a 52 week high of $21.66. The stock has a 50 day moving average price of $19.97 and a 200-day moving average price of $19.77. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 34.37 and a beta of 0.56.
Astoria Financial Corporation (NYSE:AF) last posted its quarterly earnings results on Wednesday, July 26th. The savings and loans company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.03. Astoria Financial Corporation had a return on equity of 4.21% and a net margin of 13.52%. The business had revenue of $90.38 million for the quarter, compared to analyst estimates of $91.76 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue was down 4.9% on a year-over-year basis. Equities research analysts anticipate that Astoria Financial Corporation will post $0.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, August 3rd. Astoria Financial Corporation’s payout ratio is presently 27.59%.
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A number of hedge funds have recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new stake in Astoria Financial Corporation during the second quarter valued at about $399,000. The Manufacturers Life Insurance Company increased its stake in Astoria Financial Corporation by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 71,006 shares of the savings and loans company’s stock valued at $1,430,000 after buying an additional 310 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Astoria Financial Corporation during the second quarter valued at about $911,000. State Street Corp increased its stake in Astoria Financial Corporation by 3.4% in the second quarter. State Street Corp now owns 2,250,915 shares of the savings and loans company’s stock valued at $45,351,000 after buying an additional 75,041 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Astoria Financial Corporation by 18.1% in the second quarter. Goldman Sachs Group Inc. now owns 687,415 shares of the savings and loans company’s stock valued at $13,851,000 after buying an additional 105,299 shares in the last quarter. 86.89% of the stock is currently owned by institutional investors and hedge funds.
AF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised Astoria Financial Corporation from a “market perform” rating to an “outperform” rating and set a $25.50 target price on the stock in a research report on Thursday, April 27th. BidaskClub lowered Astoria Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $17.00 target price on shares of Astoria Financial Corporation in a research report on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $20.25.
Astoria Financial Corporation Company Profile
Astoria Financial Corporation is a unitary savings and loan holding company. The Company’s principal business is the operation of its subsidiary, Astoria Bank. Astoria Bank’s primary business is attracting retail deposits from the general public and businesses and investing those deposits, together with funds generated from operations, principal repayments on loans and securities and borrowings, primarily in multi-family and commercial real estate mortgage loans, one- to four-family, or residential, mortgage loans and mortgage-backed securities.
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