Flushing Financial Co. (NASDAQ:FFIC – Get Rating) announced a quarterly dividend on Tuesday, November 22nd, Zacks reports. Investors of record on Friday, December 9th will be given 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 of this dividend is Thursday, December 8th.
Flushing Financial has raised its dividend 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 payout ratio of 51.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance
Flushing Financial stock traded down $0.02 during mid-day trading on Thursday, hitting $20.78. The company’s stock had a trading volume of 45,458 shares, compared to its average volume of 109,648. The stock has a market capitalization of $619.45 million, a P/E 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. The stock’s fifty day moving average price is $20.28 and its two-hundred day moving average price is $21.27. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.34.
Analyst Ratings Changes
In other Flushing Financial news, EVP Theresa Kelly sold 2,000 shares of the company’s 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 transaction, the executive vice president now owns 37,997 shares of the company’s stock, valued at approximately $791,097.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Flushing Financial
Large investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc bought a new stake in Flushing Financial during the 3rd quarter worth about $38,000. Great West Life Assurance Co. Can raised its stake in shares of Flushing Financial by 29.7% during the first quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank’s stock worth $64,000 after buying an additional 628 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Flushing Financial by 1,207.7% in the third quarter. Tower Research Capital LLC TRC now owns 8,108 shares of the bank’s stock valued at $157,000 after buying an additional 7,488 shares during the period. Commonwealth Equity Services LLC bought a new position in Flushing Financial in the third quarter valued at approximately $199,000. Finally, Royal Bank of Canada boosted its stake in Flushing Financial by 11.7% in the third quarter. Royal Bank of Canada now owns 11,615 shares of the bank’s stock valued at $226,000 after acquiring an additional 1,212 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.
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, demand accounts, NOW accounts, and certificates of deposit.
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