Flushing Financial Co. Announces Quarterly Dividend of $0.22 (NASDAQ:FFIC)

Flushing Financial Co. (NASDAQ:FFICGet Free Report) declared a quarterly dividend on Wednesday, May 29th, Zacks reports. Shareholders of record on Monday, June 10th will be paid a dividend of 0.22 per share by the bank on Friday, June 21st. This represents a $0.88 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Friday, June 7th.

Flushing Financial has raised its dividend by an average of 1.6% per year over the last three years. Flushing Financial has a payout ratio of 76.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Flushing Financial to earn $1.17 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 75.2%.

Flushing Financial Stock Performance

Shares of Flushing Financial stock opened at $12.64 on Thursday. The firm has a market capitalization of $367.44 million, a P/E ratio of 12.64 and a beta of 0.78. Flushing Financial has a 12 month low of $10.74 and a 12 month high of $18.00. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $12.20 and a two-hundred day simple moving average of $13.76.

Flushing Financial (NASDAQ:FFICGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. The firm had revenue of $112.58 million during the quarter, compared to analysts’ expectations of $47.12 million. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities analysts forecast that Flushing Financial will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. DA Davidson cut their price target on Flushing Financial from $17.00 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, March 5th. StockNews.com lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Flushing Financial from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th.

Check Out Our Latest Research Report on FFIC

About Flushing Financial

(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, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.

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Dividend History for Flushing Financial (NASDAQ:FFIC)

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