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

Flushing Financial Co. (NASDAQ:FFIC) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 6.21%. The ex-dividend date is Friday, March 14th.

Flushing Financial has raised its dividend 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. Equities 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 Performance

Shares of FFIC opened at $14.18 on Thursday. Flushing Financial has a 1 year low of $10.74 and a 1 year high of $18.59. The company has a market cap of $477.28 million, a price-to-earnings ratio of -14.04 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 fifty day moving average of $14.47 and a 200-day moving average of $15.04.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Flushing Financial presently has an average 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.