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

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

Flushing Financial has increased its dividend payment by an average of 1.6% annually 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 Performance

Shares of FFIC stock opened at $14.10 on Friday. Flushing Financial has a 12 month low of $10.74 and a 12 month high of $18.59. The stock has a market capitalization of $474.59 million, a P/E ratio of -13.96 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The firm’s 50 day moving average is $14.47 and its 200 day moving average is $15.04.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 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%. On average, sell-side analysts anticipate that Flushing Financial will post 1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

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 assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Flushing Financial has an average rating of “Hold” and a consensus 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.