Flushing Financial (NASDAQ:FFIC) Posts Earnings Results, Misses Expectations By $0.07 EPS

Flushing Financial (NASDAQ:FFIC) released its earnings results on Tuesday. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07), Zacks reports. Flushing Financial had a net margin of 5.48% and a return on equity of 3.75%.

Flushing Financial Trading Down 2.5 %

NASDAQ FFIC traded down $0.37 on Tuesday, hitting $14.32. 269,046 shares of the stock were exchanged, compared to its average volume of 353,250. The company’s 50-day moving average price is $15.62 and its two-hundred day moving average price 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 52-week low of $10.74 and a 52-week high of $18.59. The company has a market capitalization of $482.01 million, a price-to-earnings ratio of 16.46 and a beta of 0.81.

Flushing Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors 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 dividend payout ratio (DPR) is presently 101.15%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Flushing Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.50.

Insider Transactions at Flushing Financial

In related news, Director Sam Sang Ki Han sold 10,000 shares of the stock in a transaction that occurred on 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 owns 67,251 shares in the company, valued at approximately $1,040,372.97. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the sale, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at $564,270.07. This trade 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 currently owned by insiders.

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.