Flushing Financial Co. (NASDAQ:FFIC) announced a quarterly dividend on Wednesday, November 21st, Wall Street Journal reports. Stockholders of record on Friday, December 7th will be paid a dividend of 0.20 per share by the bank on Friday, December 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, December 6th.
Flushing Financial has increased its dividend payment by an average of 6.3% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Flushing Financial has a dividend payout ratio of 43.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Flushing Financial to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 47.6%.
Shares of Flushing Financial stock opened at $21.89 on Wednesday. The stock has a market cap of $654.39 million, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.16 and a beta of 0.88. Flushing Financial has a twelve month low of $20.34 and a twelve month high of $29.55. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 2.21.
FFIC has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. ValuEngine lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Finally, Zacks Investment Research lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.38.
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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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
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