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In a recent transaction, Thomas Buonaiuto, the Senior Executive Vice President of Flushing Financial Corp (NASDAQ:FFIC), sold a significant portion of his holdings in the company. According to the SEC filing dated March 12, 2025, Buonaiuto sold 6,800 shares of common stock at an average price of $12.92 per share. This transaction totaled approximately $87,856. The sale comes as FFIC shares have declined nearly 4% over the past week, though InvestingPro analysis indicates the stock is currently trading near its Fair Value.
Following the sale, Buonaiuto retains ownership of 32,336 shares directly. Additionally, he holds 222 shares indirectly, attributed to his spouse, and 7,744 shares in a 401K plan associated with Flushing Bank. The company maintains a notable 6.88% dividend yield and has consistently paid dividends for 30 consecutive years, according to InvestingPro data.
These transactions provide insight into Buonaiuto’s current holdings and financial decisions within the company. Investors may find this information relevant when considering their own positions in Flushing Financial Corp. Analysts maintain price targets ranging from $15 to $19 per share, suggesting potential upside from current levels. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the full FFIC Research Report on InvestingPro.
In other recent news, Flushing Financial Corporation reported its fourth-quarter 2024 earnings, which fell short of analysts’ expectations. The company announced a GAAP loss per share of $1.61 and core earnings per share of $0.14, missing the anticipated $0.21. Revenue also came in significantly below forecasts, registering a negative $19.78 million against the expected $51.02 million. This underperformance was attributed to a substantial pre-tax loss of $76 million due to balance sheet restructuring. Despite these challenges, Flushing Financial managed to increase its net interest margin by 29 basis points on a GAAP basis. The company also completed a $70 million equity raise in December 2024, indicating efforts to bolster its capital position. Looking ahead, Flushing Financial aims to expand its core net interest margin by 10-15 basis points in 2025, with a projected net interest margin of $230-240 million. The company is also focusing on expanding its presence in the Asian market and exploring opportunities in SBA (LON:SBA) loans.
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