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

Flushing Financial Co. (NASDAQ:FFICGet Rating) announced a quarterly dividend on Tuesday, November 22nd, Zacks reports. Shareholders of record on Friday, December 9th will be given a dividend of 0.22 per share by the bank on Friday, December 23rd. This represents a $0.88 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, December 8th.

Flushing Financial has raised its dividend by an average of 1.6% annually over the last three years and has increased its dividend every year for the last 1 years. Flushing Financial has a dividend payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flushing Financial to earn $1.77 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 49.7%.

Flushing Financial Stock Down 0.1 %

Shares of NASDAQ:FFIC traded down $0.02 during midday trading on Thursday, reaching $20.78. The company had a trading volume of 45,458 shares, compared to its average volume of 109,648. Flushing Financial has a one year low of $19.30 and a one year high of $25.95. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $619.45 million, a P/E ratio of 7.61 and a beta of 0.68. The stock’s fifty day moving average price is $20.28 and its 200-day moving average price is $21.27.

Insider Activity at Flushing Financial

In related news, EVP Theresa Kelly sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $20.82, for a total value of $41,640.00. Following the completion of the transaction, the executive vice president now directly owns 37,997 shares of the company’s stock, valued at approximately $791,097.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Flushing Financial

Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Flushing Financial by 61.6% during the first quarter. The Manufacturers Life Insurance Company now owns 378,542 shares of the bank’s stock valued at $8,460,000 after acquiring an additional 144,279 shares during the period. Millennium Management LLC lifted its holdings in shares of Flushing Financial by 1,188.8% in the second quarter. Millennium Management LLC now owns 127,269 shares of the bank’s stock valued at $2,706,000 after buying an additional 117,394 shares during the period. State Street Corp raised its position in Flushing Financial by 12.2% in the first quarter. State Street Corp now owns 874,032 shares of the bank’s stock worth $19,535,000 after acquiring an additional 94,912 shares in the last quarter. BlackRock Inc. boosted its position in shares of Flushing Financial by 3.9% during the 1st quarter. BlackRock Inc. now owns 2,480,912 shares of the bank’s stock valued at $55,449,000 after purchasing an additional 92,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Flushing Financial by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,330,027 shares of the bank’s stock worth $52,077,000 after purchasing an additional 56,474 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Piper Sandler decreased their price target on Flushing Financial to $24.00 in a research note on Wednesday, October 5th. StockNews.com lowered Flushing Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th.

About Flushing Financial

(Get Rating)

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, demand accounts, NOW accounts, and certificates of deposit.

Further Reading

Dividend History for Flushing Financial (NASDAQ:FFIC)

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