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. Investors of record on Friday, March 14th will be given 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 by an average of 1.6% per year over the last three years. Flushing Financial has a dividend payout ratio of 59.5% meaning 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 Price Performance

FFIC traded down $0.08 on Wednesday, reaching $14.18. The company had a trading volume of 103,912 shares, compared to its average volume of 308,846. The company has a fifty day moving average of $14.48 and a 200-day moving average of $15.05. The company has a market capitalization of $477.12 million, a P/E ratio of -14.03 and a beta of 0.81. Flushing Financial has a one year low of $10.74 and a one year high of $18.59. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (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%. As a group, equities research analysts anticipate that Flushing Financial will post 1.2 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.50.

Flushing Financial Company Profile

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.