Flushing Financial (NASDAQ:FFIC) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Flushing Financial's stock recently surpassed its 200-day moving average, trading at $12.74 with a volume of 322,992 shares.
• The company reported a quarterly EPS of $0.32, beating estimates, but had a negative net margin of 7.13% with revenues slightly below expectations at $58.92 million.
• Flushing Financial has declared a dividend of $0.22 per share, providing a 6.9% annualized yield, despite a negative dividend payout ratio of 73.95%.

Flushing Financial Corporation (NASDAQ:FFIC - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.68 and traded as high as $12.82. Flushing Financial shares last traded at $12.74, with a volume of 322,992 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Flushing Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

Flushing Financial Stock Performance

The company has a market capitalization of $427.63 million, a price-to-earnings ratio of -10.64 and a beta of 0.84. The stock has a fifty day moving average price of $12.19 and a two-hundred day moving average price of $12.65. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Flushing Financial (NASDAQ:FFIC - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. The business had revenue of $58.92 million during the quarter, compared to the consensus estimate of $60.13 million. Flushing Financial had a positive return on equity of 4.45% and a negative net margin of 7.13%. As a group, analysts forecast that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.88 annualized dividend and a dividend yield of 7.0%. Flushing Financial's dividend payout ratio is presently -73.95%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Flushing Financial by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,813 shares of the bank's stock worth $226,000 after purchasing an additional 684 shares during the period. First Trust Advisors LP boosted its stake in shares of Flushing Financial by 5.1% during the 2nd quarter. First Trust Advisors LP now owns 21,621 shares of the bank's stock worth $257,000 after acquiring an additional 1,049 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Flushing Financial by 9.1% in the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank's stock valued at $222,000 after purchasing an additional 1,453 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 valued at $46,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Corebridge Financial Inc. lifted its holdings in shares of Flushing Financial by 14.1% in the first quarter. Corebridge Financial Inc. now owns 15,627 shares of the bank's stock valued at $198,000 after purchasing an additional 1,931 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 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.