Flushing Financial Corporation (FFIC) To Go Ex-Dividend on March 13th

Flushing Financial Corporation (NASDAQ:FFIC) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Friday, March 13th will be given a dividend of 0.22 per share by the bank on Friday, March 27th. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, March 13th.

Flushing Financial has raised its dividend by an average of 0.0%annually over the last three years. Flushing Financial has a payout ratio of 59.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Flushing Financial to earn $1.45 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 60.7%.

Flushing Financial Stock Up 0.2%

Shares of NASDAQ FFIC opened at $15.27 on Wednesday. The company has a market capitalization of $517.35 million, a P/E ratio of 28.28 and a beta of 0.82. Flushing Financial has a 52-week low of $10.65 and a 52-week high of $17.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.93. The company’s 50 day moving average price is $15.81 and its 200-day moving average price is $15.15.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Flushing Financial had a net margin of 3.86% and a return on equity of 5.95%. The firm had revenue of $58.81 million during the quarter, compared to the consensus estimate of $62.27 million. Equities analysts forecast that Flushing Financial will post 1.2 earnings per share for the current year.

Insider Activity

In other news, EVP Thomas Buonaiuto sold 1,570 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $16.20, for a total transaction of $25,434.00. Following the transaction, the executive vice president owned 35,469 shares of the company’s stock, valued at $574,597.80. This represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.66% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FFIC. Wellington Management Group LLP grew its stake in Flushing Financial by 84.3% in the fourth quarter. Wellington Management Group LLP now owns 3,293,397 shares of the bank’s stock valued at $49,961,000 after acquiring an additional 1,506,404 shares during the period. AQR Capital Management LLC raised its position in shares of Flushing Financial by 7.3% during the fourth quarter. AQR Capital Management LLC now owns 824,233 shares of the bank’s stock worth $12,504,000 after purchasing an additional 55,975 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Flushing Financial by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 813,159 shares of the bank’s stock worth $9,662,000 after purchasing an additional 18,829 shares in the last quarter. Patriot Financial Partners GP LP lifted its holdings in shares of Flushing Financial by 17.4% in the 2nd quarter. Patriot Financial Partners GP LP now owns 675,000 shares of the bank’s stock worth $8,019,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Patriot Financial Partners GP II L.P. acquired a new stake in Flushing Financial in the 3rd quarter valued at $9,322,000. 67.10% of the stock is owned by institutional investors and hedge funds.

About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.