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

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 dividend 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 annually for the last 1 consecutive years. Flushing Financial has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Equities 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%.

Shares of NASDAQ:FFIC opened at $24.75 on Thursday. Flushing Financial has a 1 year low of $14.19 and a 1 year high of $25.22. The business has a 50 day simple moving average of $23.45 and a two-hundred day simple moving average of $22.74. The firm has a market capitalization of $759.23 million, a PE ratio of 11.62 and a beta of 0.83. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.05 and a quick ratio of 1.05.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Monday, October 25th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.16. Flushing Financial had a return on equity of 13.26% and a net margin of 23.28%. The business had revenue of $64.23 million during the quarter, compared to analyst estimates of $62.00 million. During the same quarter in the previous year, the business earned $0.56 earnings per share. Equities research analysts expect that Flushing Financial will post 2.83 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in FFIC. Morgan Stanley boosted its holdings in shares of Flushing Financial by 71.3% in the second quarter. Morgan Stanley now owns 93,275 shares of the bank’s stock valued at $2,000,000 after purchasing an additional 38,830 shares during the period. Wells Fargo & Company MN lifted its holdings in Flushing Financial by 38.1% during the second quarter. Wells Fargo & Company MN now owns 41,699 shares of the bank’s stock worth $894,000 after buying an additional 11,509 shares during the period. Bank of New York Mellon Corp lifted its holdings in Flushing Financial by 3.6% during the third quarter. Bank of New York Mellon Corp now owns 277,356 shares of the bank’s stock worth $6,268,000 after buying an additional 9,597 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Flushing Financial by 110.0% during the third quarter. BNP Paribas Arbitrage SA now owns 8,216 shares of the bank’s stock worth $186,000 after buying an additional 4,304 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Flushing Financial by 13.2% during the third quarter. Jane Street Group LLC now owns 14,714 shares of the bank’s stock worth $333,000 after buying an additional 1,715 shares during the period. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Separately, Zacks Investment Research upgraded Flushing Financial from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Friday, October 29th.

About Flushing Financial

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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