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

Flushing Financial Co. (NASDAQ:FFICGet Rating) declared a quarterly dividend on Tuesday, November 22nd, Zacks reports. Investors of record on Friday, December 9th will be paid a dividend of 0.22 per share by the bank on Friday, December 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Thursday, December 8th.

Flushing Financial has raised its dividend payment by an average of 1.6% per year over the last three years and has raised its dividend every year for the last 1 years. Flushing Financial has a dividend payout ratio of 51.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Flushing Financial to earn $1.77 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 49.7%.

Flushing Financial Stock Performance

Shares of NASDAQ FFIC traded down $0.02 during trading hours on Thursday, reaching $20.78. The stock had a trading volume of 45,458 shares, compared to its average volume of 109,648. The business’s fifty day moving average is $20.28 and its two-hundred day moving average is $21.27. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $619.45 million, a price-to-earnings ratio of 7.61 and a beta of 0.68. Flushing Financial has a twelve month low of $19.30 and a twelve month high of $25.95.

Analyst Upgrades and Downgrades

FFIC has been the subject of a number of recent research reports. StockNews.com lowered Flushing Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Piper Sandler cut their target price on Flushing Financial to $24.00 in a research note on Wednesday, October 5th.

Insiders Place Their Bets

In other Flushing Financial news, EVP Theresa Kelly sold 2,000 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $20.82, for a total transaction of $41,640.00. Following the completion of the transaction, the executive vice president now directly owns 37,997 shares in the company, valued at $791,097.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in Flushing Financial during the third quarter worth $725,000. Thrivent Financial for Lutherans raised its stake in Flushing Financial by 33.2% during the third quarter. Thrivent Financial for Lutherans now owns 161,856 shares of the bank’s stock worth $3,135,000 after acquiring an additional 40,329 shares in the last quarter. Trexquant Investment LP raised its stake in Flushing Financial by 60.4% during the third quarter. Trexquant Investment LP now owns 32,614 shares of the bank’s stock worth $632,000 after acquiring an additional 12,280 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Flushing Financial in the third quarter valued at $350,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Flushing Financial in the third quarter valued at $38,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

About Flushing Financial

(Get Rating)

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, demand accounts, NOW accounts, and certificates of deposit.

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Dividend History for Flushing Financial (NASDAQ:FFIC)

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