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

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 paid 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 6.21%. The ex-dividend date is Friday, March 14th.

Flushing Financial has increased its dividend by an average of 1.6% per year 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 Down 0.5 %

FFIC traded down $0.08 during trading on Wednesday, reaching $14.18. 103,912 shares of the stock were exchanged, compared to its average volume of 308,846. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.59. The stock has a market cap of $477.12 million, a P/E ratio of -14.03 and a beta of 0.81. The stock’s 50 day moving average price is $14.48 and its two-hundred day moving average price is $15.05. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, January 28th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate 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%. Equities analysts expect that Flushing Financial will post 1.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.