Flushing Financial Co. (NASDAQ:FFIC – Get Rating) announced a quarterly dividend on Tuesday, May 17th, Zacks reports. Shareholders of record on Friday, June 3rd will be paid a dividend of 0.22 per share by the bank on Friday, June 24th. This represents a $0.88 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, June 2nd.
Flushing Financial has raised its dividend payment by an average of 1.6% per year over the last three years and has increased its dividend every year for the last 1 years. Flushing Financial has a dividend payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Flushing Financial to earn $2.44 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 36.1%.
FFIC stock opened at $22.19 on Thursday. The stock’s 50 day moving average is $22.14 and its 200-day moving average is $23.45. Flushing Financial has a twelve month low of $19.79 and a twelve month high of $25.95. The firm has a market capitalization of $673.47 million, a PE ratio of 8.60 and a beta of 0.73. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.30.
A number of institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can raised its stake in Flushing Financial by 29.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank’s stock valued at $64,000 after acquiring an additional 628 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Flushing Financial by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 8,216 shares of the bank’s stock worth $186,000 after purchasing an additional 4,304 shares in the last quarter. Citigroup Inc. raised its position in shares of Flushing Financial by 78.7% in the fourth quarter. Citigroup Inc. now owns 8,277 shares of the bank’s stock valued at $201,000 after purchasing an additional 3,644 shares during the period. Royal Bank of Canada lifted its stake in shares of Flushing Financial by 15.1% during the 3rd quarter. Royal Bank of Canada now owns 11,710 shares of the bank’s stock valued at $265,000 after buying an additional 1,539 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in Flushing Financial in the 1st quarter worth approximately $330,000. Institutional investors and hedge funds own 73.40% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Flushing Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. StockNews.com initiated coverage on Flushing Financial in a research note on Thursday, March 31st. They issued a “buy” rating for the company.
Flushing Financial Company Profile (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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