Flushing Financial Co. (FFIC) To Go Ex-Dividend on December 6th

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 given 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 5.05%. The ex-dividend date of this dividend 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Stock Performance

Shares of FFIC opened at $17.42 on Friday. The company has a market capitalization of $506.40 million, a PE ratio of 20.02 and a beta of 0.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $14.09. Flushing Financial has a 52-week low of $10.74 and a 52-week high of $18.40.

Insiders Place Their Bets

In related news, Director Sam Sang Ki Han sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were 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 in the company, valued at approximately $1,040,372.97. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the transaction, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at $564,270.07. The trade was a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FFIC shares. Keefe, Bruyette & Woods increased their target price on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Raymond James lifted their price target on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Piper Sandler cut shares of Flushing Financial from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Flushing Financial currently has an average 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.