Flushing Financial Co. (FFIC) to Issue Quarterly Dividend of $0.22 on March 28th

Flushing Financial Co. (NASDAQ:FFIC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Friday, March 14th.

Flushing Financial has raised its dividend by an average of 1.6% per year over the last three years. Flushing Financial has a dividend payout ratio of 59.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Down 0.6 %

Flushing Financial stock opened at $14.10 on Friday. The firm has a market cap of $474.59 million, a price-to-earnings ratio of -13.96 and a beta of 0.81. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $15.04. Flushing Financial has a 52-week low of $10.74 and a 52-week high of $18.59.

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

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note 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 company’s stock. According to MarketBeat, Flushing Financial currently has a consensus rating of “Hold” and an average target price 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.