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

Flushing Financial Co. (NASDAQ:FFIC) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.22 per share by the bank on Friday, March 28th. This represents a $0.88 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, March 14th.

Flushing Financial has increased its dividend payment by an average of 1.6% annually over the last three years. Flushing Financial has a dividend payout ratio of 59.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Flushing Financial to earn $1.45 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 60.7%.

Flushing Financial Trading Down 0.5 %

Shares of FFIC stock opened at $14.18 on Thursday. The firm’s 50 day moving average price is $14.47 and its two-hundred day moving average price is $15.04. Flushing Financial has a fifty-two week low of $10.74 and a fifty-two week high of $18.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. The stock has a market cap of $477.28 million, a price-to-earnings ratio of -14.04 and a beta of 0.81.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. On average, analysts anticipate that Flushing Financial will post 1.2 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.50.

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.