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

Flushing Financial Co. (NASDAQ:FFIC) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.22 per share by the bank on Friday, December 20th. This represents a $0.88 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Friday, December 6th.

Flushing Financial has increased its dividend payment by an average of 1.6% per year over the last three years. Flushing Financial has a dividend payout ratio of 80.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Flushing Financial to earn $1.12 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 78.6%.

Flushing Financial Trading Down 0.9 %

Flushing Financial stock traded down $0.15 during mid-day trading on Wednesday, hitting $17.02. 40,379 shares of the stock were exchanged, compared to its average volume of 179,790. The firm’s fifty day simple moving average is $15.32 and its two-hundred day simple moving average is $14.05. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. Flushing Financial has a 12 month low of $10.74 and a 12 month high of $18.40. The stock has a market capitalization of $494.75 million, a price-to-earnings ratio of 19.74 and a beta of 0.75.

Insider Transactions at Flushing Financial

In other Flushing Financial news, CAO Astrid Burrowes sold 8,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the sale, the chief accounting officer now directly owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction on Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the completion of the sale, the director now directly owns 67,251 shares of the company’s stock, valued at approximately $1,040,372.97. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FFIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Flushing Financial from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. StockNews.com raised Flushing Financial from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $15.00 to $16.50 in a research report on Tuesday, July 30th. Finally, Raymond James upped their price objective on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Flushing Financial currently has a consensus rating of “Hold” and an average price target of $15.50.

Flushing Financial Company Profile

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.