Flushing Financial (NASDAQ:FFIC) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Flushing Financial Corporation (NASDAQ:FFIC)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.24 and traded as high as $15.53. Flushing Financial shares last traded at $15.18, with a volume of 303,293 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FFIC shares. Weiss Ratings raised Flushing Financial from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 9th. Raymond James Financial downgraded Flushing Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Zacks Research lowered shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Flushing Financial from $14.50 to $16.80 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.80.

Flushing Financial Trading Up 2.6%

The stock has a fifty day moving average of $15.82 and a 200 day moving average of $15.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $514.30 million, a PE ratio of 28.11 and a beta of 0.82.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $58.81 million for the quarter, compared to analysts’ expectations of $62.27 million. Flushing Financial had a net margin of 3.86% and a return on equity of 5.95%. As a group, sell-side analysts predict that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, March 13th. Flushing Financial’s dividend payout ratio (DPR) is presently 162.96%.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 1,570 shares of Flushing Financial stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $16.20, for a total value of $25,434.00. Following the sale, the executive vice president directly owned 35,469 shares in the company, valued at approximately $574,597.80. The trade was a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Flushing Financial by 75.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after purchasing an additional 1,650 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Flushing Financial by 58.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock worth $50,000 after buying an additional 1,218 shares in the last quarter. Allworth Financial LP boosted its stake in Flushing Financial by 306.0% during the fourth quarter. Allworth Financial LP now owns 3,950 shares of the bank’s stock valued at $60,000 after buying an additional 2,977 shares during the last quarter. Summit Securities Group LLC purchased a new position in Flushing Financial during the 4th quarter valued at approximately $82,000. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Flushing Financial by 37.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock valued at $96,000 after buying an additional 2,194 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.