Flushing Financial (NASDAQ:FFIC) Releases Earnings Results, Misses Expectations 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 Trading Down 2.5 %

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

Flushing Financial Dividend Announcement

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

Insider Activity at Flushing Financial

In other news, 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 sale, the chief accounting officer now directly owns 34,853 shares in the company, valued at approximately $564,270.07. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sam Sang Ki Han sold 10,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at approximately $1,040,372.97. This represents a 12.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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 company. Based on data from MarketBeat, Flushing Financial presently has an average rating of “Hold” and a consensus price target 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.