Flushing Financial (FFIC) AI Stock Analysis

• Market Cap: $506.90M
• Dividend Yield: 5.16%
• Average Volume (3M): 262.51K
• Price to Earnings (P/E): 27.7
• Beta (1Y): 0.97
• Revenue Growth: -11.91%
• EPS Growth: -235.73%
• Country: US
• Employees: 571
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.32
• Shares Outstanding: 33,883,625
• 10 Day Avg. Volume: 304,058
• 30 Day Avg. Volume: 262,511
• PEG Ratio: -0.18
• Price to Book (P/B): 0.74
• Price to Sales (P/S): 1.15
• P/FCF Ratio: 9.38
• Enterprise Value/Market Cap: 1.92
• Enterprise Value/Revenue: 1.99
• Enterprise Value/Gross Profit: 4.31
• Enterprise Value/Ebitda: 24.25
• 1Y Price Target: $16.80
• Price Target Upside: 12.30% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2
• EPS Forecast (FY): 1.53
• Revenue Forecast (FY): $259.09M

• Rating: 53 Neutral
• Price Target: $15.50 ▲(3.61% Upside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held back primarily by weak cash-flow quality in 2025 (OCF/FCF reported at zero) and bearish technical signals (below key moving averages with negative MACD). Offsetting factors include the return to profitability, a high dividend yield, and positive M&A-related corporate developments that may provide support pending deal completion.

Positive Factors

Strategic merger & capital infusion

The planned OceanFirst merger combined with a $225M Warburg equity commitment materially strengthens capital and scale. Structurally, combining franchises should broaden lending capacity, diversify funding sources, and provide execution support that can raise long‑term franchise competitiveness and resilience.

Growing low‑cost deposit base

A meaningful increase in noninterest-bearing deposits and modest NIM expansion indicate improved funding mix and lower funding costs. Durable growth in low‑cost core deposits enhances margin sustainability, reduces reliance on volatile wholesale funding, and supports repeatable loan growth over months.

Improved leverage / capital ratios

Lower leverage and a higher tangible common equity ratio strengthen the balance sheet and regulatory buffers. This structural improvement increases financial flexibility to deploy capital into lending or absorb stress, lowering refinance and solvency risk over the medium term.

Negative Factors

Collapse in operating cash generation

A reported OCF and FCF of zero is a material durability concern: earnings are not converting into cash, constraining internal funding for dividends, loan growth, or reserves. Persistent weak cash conversion raises questions about working capital, fee timing, or core earning quality over coming quarters.

Weak returns on equity and profitability

ROE and net margins remain far below prior peaks, indicating the franchise currently lacks earning power to generate attractive returns. Structural pressure from funding costs, credit provisioning, or portfolio mix limits retained earnings and constrains capital generation for strategic initiatives.

Deal execution and conditionality risk

The merger’s benefits depend on simultaneous Warburg investment and regulatory approvals. That cross‑conditional structure creates execution risk: if either element fails, expected capital and scale benefits vanish, leaving the bank exposed to standalone challenges and potential integration or governance disruption.

Flushing Financial Business Overview & Revenue Model

Company Description

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. The company also provides mortgage loans secured by multi-family residential, commercial real estate, one-to-four family mixed-use property, one-to-four family residential property, and commercial business loans; construction loans; small business administration loans and other small business loans; mortgage loan surrogates, such as mortgage-backed securities; and consumer loans, including overdraft lines of credit, as well as the United States government securities, corporate fixed-income securities, and other marketable securities. In addition, it offers banking services to public municipalities comprising counties, cities, towns, villages, school districts, libraries, fire districts, and various courts. As of December 31, 2021, the company operated 24 full-service offices located in the New York City boroughs of Queens, Brooklyn, and Manhattan; and in Nassau and Suffolk County, New York, as well as an Internet branch. Flushing Financial Corporation was founded in 1929 and is based in Uniondale, New York.

How the Company Makes Money

Flushing Financial generates revenue primarily through net interest income and non-interest income. Net interest income is derived from the interest earned on loans and securities, minus the interest paid on deposits and borrowings. The bank earns interest from various loan products, including residential mortgages, commercial real estate loans, and personal loans. Additionally, Flushing Financial generates non-interest income through service fees, account maintenance charges, and transaction fees. The bank has also established partnerships with local businesses for deposit and lending services, enhancing its revenue opportunities. Furthermore, its focus on wealth management services allows it to generate fees from asset management and investment advisory services, contributing positively to its overall earnings.

Flushing Financial Financial Statement Overview

Summary

Income statement shows a rebound to profitability in 2025 (after a 2024 loss) and improved leverage, but earnings power remains far below 2021–2022 levels. Cash flow is the key weakness: operating cash flow and free cash flow reported at zero in 2025, which is a material quality/durability red flag.

Income Statement

Results show a sharp rebound in 2025: revenue grew ~8% and profitability returned (net margin ~4% vs. a loss in 2024). However, earnings power remains well below the 2021–2022 peak (when net margins were ~24–28%), and the 2024 loss highlights meaningful sensitivity to the rate/credit cycle and funding costs.

Balance Sheet

Leverage improved in 2025 with debt-to-equity declining to ~0.84 (down from ~1.33 in 2024), and equity remained relatively stable. The key weakness is still low profitability on equity in 2025 (~2.7%) versus prior years (double-digit in 2021–2022), suggesting the balance sheet is not currently generating strong returns despite the lower leverage.

Cash Flow

Cash flow quality deteriorated materially in 2025: operating cash flow and free cash flow were reported at zero (vs. positive in prior years), implying weak cash generation and/or unfavorable working-capital/timing effects. While 2021–2023 showed strong conversion (free cash flow generally close to net income), the abrupt 2025 drop is a notable red flag and reduces confidence in near-term cash-based earnings support.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	453.22M	408.09M	424.06M	326.63M	292.25M
Gross Profit	189.73M	115.17M	191.22M	248.54M	256.60M
EBITDA	39.86M	-42.12M	46.28M	110.78M	116.31M
Net Income	18.88M	-31.33M	28.66M	76.94M	81.79M
Balance Sheet
Total Assets	8.69B	9.04B	8.54B	8.42B	8.05B
Cash, Cash Equivalents and Short-Term Investments	126.08M	1.56B	803.52M	648.53M	858.96M
Total Debt	592.34M	962.50M	882.10M	1.10B	869.70M
Total Liabilities	7.99B	8.31B	7.87B	7.75B	7.37B
Stockholders Equity	707.98M	724.54M	669.84M	677.16M	679.63M
Cash Flow
Free Cash Flow	55.80M	10.10M	29.10M	81.41M	84.92M
Operating Cash Flow	61.02M	12.41M	34.59M	85.75M	88.60M
Investing Cash Flow	246.53M	-505.60M	-94.26M	-351.82M	-106.78M
Financing Cash Flow	-334.05M	473.61M	80.08M	336.09M	-57.48M

Flushing Financial Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.96
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FFIC, the sentiment is Negative. The current price of 14.96 is below the 20-day moving average (MA) of 15.67, below the 50-day MA of 15.55, and above the 200-day MA of 13.85, indicating a neutral trend. The MACD of -0.26 indicates Positive momentum. The RSI at 37.55 is Neutral, neither overbought nor oversold. The STOCH value of 15.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FFIC.

Flushing Financial Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GCBC	76 Outperform	$372.89M	9.19	15.00%	1.63%	13.16%	37.40%
HBCP	73 Outperform	$453.72M	9.75	11.03%	1.92%	6.25%	24.92%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
BMRC	65 Neutral	$384.66M	9.53	2.24%	3.76%	23.93%	―
KRNY	65 Neutral	$469.36M	12.32	4.31%	5.80%	4.38%	―
BSRR	64 Neutral	$434.76M	8.40	11.07%	3.03%	-0.65%	14.14%
FFIC	53 Neutral	$506.90M	27.71	2.67%	5.16%	-11.91%	-235.73%

Flushing Financial Corporate Events

Flushing Financial Declares Quarterly Cash Dividend for Shareholders

Flushing Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.22 per common share. The dividend is scheduled to be paid on March 27, 2026, to shareholders of record as of the close of business on March 13, 2026, signaling an ongoing capital return to investors through its regular dividend policy.

The most recent analyst rating on (FFIC) stock is a Hold with a $16.80 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.

Flushing Financial to Be Acquired by OceanFirst Financial

On December 29, 2025, Flushing Financial Corporation agreed to be acquired by OceanFirst Financial Corp. through a two-step merger structure under which a newly formed OceanFirst subsidiary will merge into Flushing, followed by Flushing’s merger into OceanFirst and the subsequent consolidation of Flushing Bank into OceanFirst Bank, with the combined bank expected to close in the second quarter of 2026, subject to regulatory and shareholder approvals. Flushing shareholders will receive 0.85 shares of OceanFirst common stock for each Flushing share, while governance arrangements will give six Flushing directors seats on a 17‑member OceanFirst board, name Flushing CEO John R. Buran non‑executive chairman for two years post‑closing, and preserve Flushing’s Uniondale headquarters as a regional hub. Concurrently, OceanFirst secured a $225 million capital investment from Warburg Pincus affiliates, including new common and non‑voting common‑equivalent stock and a substantial warrant, with both the investment and merger transactions cross‑conditioned on each other’s closing. Flushing and OceanFirst also entered into reciprocal voting agreements with directors and key officers to support shareholder approvals, and the merger agreement includes customary covenants, regulatory and tax closing conditions, and tiered termination fees that increase significantly if the Warburg investment fails under specified scenarios. In connection with the deal, Flushing implemented a suite of executive compensation actions effective around December 31, 2025, including cash retention awards for senior executives tied to closing and post‑closing service, accelerated pre‑payments of an estimated 85% of 2025 bonuses subject to clawback, and one‑time cash payments in exchange for terminating retiree health and welfare benefits, signaling both leadership transition planning and a cleanup of legacy benefit obligations ahead of the transaction’s completion.

The most recent analyst rating on (FFIC) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.

Flushing Financial to be Acquired by OceanFirst in Merger

On December 29, 2025, Flushing Financial Corporation and OceanFirst Financial Corp. announced they had signed a definitive Agreement and Plan of Merger under which Apollo Merger Sub Corp., a wholly owned subsidiary of OceanFirst, will merge into Flushing, followed by Flushing’s merger into OceanFirst and, the next day, the combination of Flushing Bank into OceanFirst, National Association, with OceanFirst and its bank subsidiary emerging as the surviving entities. The same day, the companies disclosed that affiliates of funds managed by Warburg Pincus LLC agreed to invest $225 million in newly issued OceanFirst equity securities substantially concurrently with the merger’s effective time, a move that is expected to strengthen OceanFirst’s capital base and support the financing and integration of the Flushing acquisition, with material implications for shareholders, customers and the regional banking market once completed.

The most recent analyst rating on (FFIC) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.