Flushing Financial Co. (FFIC) to Issue $0.20 Quarterly Dividend

Flushing Financial Co. (NASDAQ:FFIC) declared a quarterly dividend on Wednesday, November 21st, Wall Street Journal reports. Investors of record on Friday, December 7th will be paid a dividend of 0.20 per share by the bank on Friday, December 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Thursday, December 6th.

Flushing Financial has raised its dividend payment by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 4 years. Flushing Financial has a dividend payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flushing Financial to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 47.6%.

Shares of NASDAQ FFIC opened at $21.89 on Wednesday. The company has a market cap of $654.39 million, a P/E ratio of 13.94, a PEG ratio of 1.16 and a beta of 0.88. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.21. Flushing Financial has a 52-week low of $20.34 and a 52-week high of $29.55.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.06. The firm had revenue of $46.48 million during the quarter, compared to analysts’ expectations of $44.70 million. Flushing Financial had a net margin of 18.44% and a return on equity of 9.27%. As a group, equities research analysts predict that Flushing Financial will post 1.8 earnings per share for the current year.

FFIC has been the subject of a number of analyst reports. BidaskClub cut shares of Flushing Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 8th. Zacks Investment Research cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Monday, November 5th. Finally, ValuEngine cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $29.38.

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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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.

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Dividend History for Flushing Financial (NASDAQ:FFIC)

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