Flushing Financial Co. (NASDAQ:FFIC) announced a quarterly dividend on Thursday, March 1st, Wall Street Journal reports. Stockholders of record on Friday, March 9th will be paid a dividend of 0.20 per share by the bank on Friday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from Flushing Financial’s previous quarterly dividend of $0.18.
Shares of Flushing Financial stock opened at $28.09 on Thursday. Flushing Financial has a 12-month low of $24.27 and a 12-month high of $31.69. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.46. The firm has a market cap of $814.66, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.45 and a beta of 1.06.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, January 30th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Flushing Financial had a net margin of 16.79% and a return on equity of 8.59%. The company had revenue of $46.12 million during the quarter. analysts anticipate that Flushing Financial will post 1.99 earnings per share for the current year.
Flushing Financial declared that its board has initiated a stock repurchase plan on Tuesday, February 27th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts have recently issued reports on FFIC shares. Zacks Investment Research cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. BidaskClub upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Sandler O’Neill downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Thursday, November 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $30.25.
Flushing Financial Company Profile
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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