Flushing Financial Co. (NASDAQ:FFIC) to Issue $0.21 Quarterly Dividend

Flushing Financial Co. (NASDAQ:FFIC) declared a quarterly dividend on Tuesday, November 23rd, Zacks reports. Shareholders of record on Friday, December 10th will be paid a dividend of 0.21 per share by the bank on Friday, December 31st. This represents a $0.84 annualized dividend and a yield of 3.39%. The ex-dividend date is Thursday, December 9th.

Flushing Financial has raised its dividend by 16.7% over the last three years and has raised its dividend every year for the last 1 years. Flushing Financial has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Flushing Financial to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 33.5%.

Flushing Financial stock opened at $24.75 on Thursday. The firm’s fifty day moving average price is $23.45 and its 200-day moving average price is $22.74. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $759.23 million, a P/E ratio of 11.62 and a beta of 0.83. Flushing Financial has a fifty-two week low of $14.19 and a fifty-two week high of $25.22.

Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Monday, October 25th. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.16. The company had revenue of $64.23 million for the quarter, compared to analysts’ expectations of $62.00 million. Flushing Financial had a net margin of 23.28% and a return on equity of 13.26%. During the same quarter last year, the company earned $0.56 EPS. On average, analysts predict that Flushing Financial will post 2.83 earnings per share for the current year.

Separately, Zacks Investment Research raised shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Friday, October 29th.

Several hedge funds have recently added to or reduced their stakes in FFIC. BNP Paribas Arbitrage SA lifted its position in Flushing Financial by 110.0% during the third quarter. BNP Paribas Arbitrage SA now owns 8,216 shares of the bank’s stock valued at $186,000 after purchasing an additional 4,304 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Flushing Financial by 15.1% in the third quarter. Royal Bank of Canada now owns 11,710 shares of the bank’s stock worth $265,000 after purchasing an additional 1,539 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Flushing Financial by 13.2% in the third quarter. Jane Street Group LLC now owns 14,714 shares of the bank’s stock worth $333,000 after purchasing an additional 1,715 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Flushing Financial by 38.1% in the second quarter. Wells Fargo & Company MN now owns 41,699 shares of the bank’s stock worth $894,000 after purchasing an additional 11,509 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Flushing Financial by 71.3% in the 2nd quarter. Morgan Stanley now owns 93,275 shares of the bank’s stock worth $2,000,000 after purchasing an additional 38,830 shares during the period. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Flushing Financial Company Profile

Flushing Financial Corp. operates as a bank holding company for Flushing Savings Bank, which provides banking and financial services. Its principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, primarily in originations and purchases of multi-family residential properties, commercial business loans, commercial real estate mortgage loans, construction loans, small business administration loans and other small business loans, mortgage loan, U.S.

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Dividend History for Flushing Financial (NASDAQ:FFIC)

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