Flushing Financial Co. (FFIC) to Issue Quarterly Dividend of $0.22 on March 22nd

Flushing Financial Co. (NASDAQ:FFICGet Free Report) declared a quarterly dividend on Tuesday, February 27th, Zacks reports. Stockholders of record on Monday, March 11th will be paid a dividend of 0.22 per share by the bank on Friday, March 22nd. This represents a $0.88 annualized dividend and a dividend yield of 6.86%. The ex-dividend date is Friday, March 8th.

Flushing Financial has increased its dividend by an average of 1.6% annually over the last three years. Flushing Financial has a payout ratio of 69.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flushing Financial to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 69.3%.

Flushing Financial Stock Up 0.7 %

Shares of FFIC opened at $12.82 on Wednesday. The company has a market capitalization of $370.37 million, a P/E ratio of 12.21 and a beta of 0.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.06 and a quick ratio of 1.06. Flushing Financial has a one year low of $9.28 and a one year high of $19.40. The business’s 50 day simple moving average is $15.04 and its 200-day simple moving average is $14.21.

Flushing Financial (NASDAQ:FFICGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Flushing Financial had a return on equity of 4.11% and a net margin of 7.37%. The firm had revenue of $53.49 million for the quarter, compared to the consensus estimate of $48.84 million. As a group, sell-side analysts predict that Flushing Financial will post 0.8 EPS for the current fiscal year.

Insider Activity

In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total value of $96,453.89. Following the transaction, the executive vice president now owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares in the company, valued at approximately $427,885.11. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Francis W. Korzekwinski sold 7,649 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total transaction of $96,453.89. Following the completion of the sale, the executive vice president now owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The disclosure for this sale can be found here. Insiders have sold a total of 33,149 shares of company stock valued at $454,174 in the last 90 days. 5.54% of the stock is owned by company insiders.

Institutional Trading of Flushing Financial

A number of large investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc bought a new stake in Flushing Financial in the 3rd quarter valued at approximately $38,000. Great West Life Assurance Co. Can raised its holdings in shares of Flushing Financial by 29.7% in the first quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank’s stock valued at $64,000 after purchasing an additional 628 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Flushing Financial by 129.0% in the third quarter. Tower Research Capital LLC TRC now owns 3,178 shares of the bank’s stock valued at $42,000 after purchasing an additional 1,790 shares during the last quarter. First Manhattan CO. LLC. acquired a new stake in shares of Flushing Financial in the first quarter valued at approximately $149,000. Finally, Stifel Financial Corp acquired a new stake in shares of Flushing Financial in the first quarter valued at approximately $153,000. Institutional investors own 62.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. DA Davidson reduced their price objective on Flushing Financial from $17.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday. Raymond James upped their price objective on Flushing Financial from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.50.

Get Our Latest Analysis on FFIC

Flushing Financial Company Profile

(Get Free Report)

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, demand accounts, NOW accounts, and certificates of deposit.

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Dividend History for Flushing Financial (NASDAQ:FFIC)

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