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Flushing Financial Corp. (FFIC)
NASDAQ:FFIC

Flushing Financial (FFIC) AI Stock Analysis

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Flushing Financial

(NASDAQ:FFIC)

Rating:52Neutral
Price Target:
$12.00
▼(-5.73%Downside)
Flushing Financial's overall stock score reflects significant financial challenges, as evidenced by negative profitability and leverage concerns. However, technical indicators suggest a neutral trend, while positive liquidity and corporate events provide some support. High dividend yields and efforts to enhance profitability may offer opportunities for improvement.

Flushing Financial (FFIC) vs. SPDR S&P 500 ETF (SPY)

Flushing Financial Business Overview & Revenue Model

Company DescriptionFlushing 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 MoneyFlushing Financial Corporation primarily generates revenue through the interest income earned on loans and investments. The bank provides a variety of loan products, such as residential and commercial real estate loans, small business loans, and consumer loans. Interest income from these loans constitutes a significant portion of its revenue. Additionally, the company earns revenue through fees and service charges related to its deposit accounts and other banking services. Flushing Financial also invests in securities, which contribute to its income through interest and dividend earnings. The bank's strategic focus on its core New York market, along with its emphasis on customer service and competitive product offerings, helps drive its profitability.

Flushing Financial Earnings Call Summary

Earnings Call Date:Apr 29, 2025
(Q1-2025)
|
% Change Since: 4.09%|
Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook with notable improvements in net interest margins, liquidity, and deposit growth. However, these were offset by challenges such as the GAAP loss driven by goodwill impairment, yield curve inversion, and an increase in nonperforming loans. The sentiment is balanced, reflecting both progress and ongoing challenges.
Q1-2025 Updates
Positive Updates
Net Interest Margin Expansion
Both GAAP and core net interest margins expanded quarter-over-quarter, with GAAP increasing by 12 basis points to 2.51% and core NIM by 24 basis points to 2.49%.
Improvement in Loan-to-Deposit Ratio
The loan-to-deposit ratio improved from 94% a year ago to 87% in the current quarter.
Strong Liquidity and Capital Positions
The company has $4 billion in undrawn lines and resources, and uninsured and uncollateralized deposits remain low at 16% of total deposits.
Contractual Loan Repricing
About $511 million of loans are due to reprice 171 basis points higher in 2025, with expectations of generating $9 million in interest income annually.
Growth in Multifamily Portfolio
The multifamily portfolio comprises 38% of gross loans with a strong credit metric of a weighted average loan-to-value of 42% and a debt coverage ratio of 1.8x.
Deposit Growth
Average deposits increased 7% year-over-year and about 1% quarter-over-quarter.
Negative Updates
GAAP Loss Per Share
The company reported a GAAP loss per share of $0.29 due to a noncash, nontax-deductible goodwill impairment charge of $17.6 million.
Yield Curve Inversion
The yield curve returned to inversion, which presents challenges for net interest margin expansion.
Increase in Nonperforming Loans
An increase in nonperforming loans in the multifamily portfolio, primarily due to one relationship, with an LTV of about 43%.
Office Loan Challenges
Two nonperforming loans in the office portfolio, with challenges due to a large tenant moving out.
Seasonal Expense Increases
An increase of $1.6 million in seasonal expenses affected the financial results for the quarter.
Company Guidance
During the call, Flushing Financial Corporation provided guidance on its financial metrics for the first quarter of 2025, highlighting several key performance indicators. The company reported a GAAP loss per share of $0.29, primarily due to a noncash goodwill impairment charge of $17.6 million, and a core earnings per share of $0.23. The net interest margin (NIM) expanded with GAAP and core NIM increasing to 2.51% and 2.49%, respectively. Deposits grew by 7% year-over-year, and the loan-to-deposit ratio improved to 87%. The cost of deposits decreased by 19 basis points, while $511 million of loans are due to reprice 171 basis points higher in 2025. Credit quality remained strong, with a 59 basis point allowance for credit losses and criticized loans at 133 basis points of total loans. The company emphasized its focus on improving profitability, maintaining credit discipline, and preserving liquidity and capital, with tangible common equity stable at 7.79%.

Flushing Financial Financial Statement Overview

Summary
Flushing Financial faces substantial challenges, particularly in income generation and cash flow management. The income statement reveals negative profitability with a net loss, while cash flows indicate potential liquidity issues. The balance sheet shows moderate stability with improved leverage management, but overall, financial performance is weak.
Income Statement
38
Negative
The income statement shows significant challenges, with a negative net income and EBIT for the latest year. The company's revenue decreased from 2022 to 2023, indicating a decline. Margins have suffered, with a negative EBIT margin of -2.05% and a net profit margin of -6.73%, reflecting struggles in profitability and operational efficiency.
Balance Sheet
65
Positive
The balance sheet presents a moderate picture. The debt-to-equity ratio improved due to lower debt levels, but equity remains relatively low compared to total assets, with an equity ratio of 8.02%. ROE stands at -4.33%, indicating losses relative to equity, but the decrease in total debt is a positive sign of improved leverage management.
Cash Flow
30
Negative
The cash flow statement is concerning with operating and free cash flows reported as zero in the latest year, signaling difficulties in generating cash. The absence of free cash flow growth and operational cash flow to net income ratio suggests potential liquidity issues, despite previous years showing positive free cash flow performance.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue417.12M408.09M424.06M326.63M292.25M275.33M
Gross Profit124.03M115.17M191.22M248.54M256.60M183.08M
EBITDA-53.25M-42.12M46.28M110.78M115.70M51.39M
Net Income-44.81M-31.33M28.66M76.94M81.79M34.67M
Balance Sheet
Total Assets9.01B9.04B8.54B8.42B8.05B7.98B
Cash, Cash Equivalents and Short-Term Investments1.63B1.56B803.52M648.53M858.96M805.36M
Total Debt465.93M962.50M882.10M1.10B869.70M1.08B
Total Liabilities8.31B8.31B7.87B7.75B7.37B7.36B
Stockholders Equity702.85M724.54M669.84M677.16M679.63M619.00M
Cash Flow
Free Cash Flow21.77M10.10M29.10M81.41M84.92M68.77M
Operating Cash Flow25.49M12.41M34.59M85.75M88.60M71.28M
Investing Cash Flow-214.95M-505.60M-94.26M-351.82M-106.78M93.10M
Financing Cash Flow250.64M473.61M80.08M336.09M-57.48M-56.77M

Flushing Financial Technical Analysis

Technical Analysis Sentiment
Positive
Last Price12.73
Price Trends
50DMA
12.08
Positive
100DMA
12.42
Positive
200DMA
13.59
Negative
Market Momentum
MACD
0.09
Negative
RSI
64.15
Neutral
STOCH
86.79
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FFIC, the sentiment is Positive. The current price of 12.73 is above the 20-day moving average (MA) of 11.87, above the 50-day MA of 12.08, and below the 200-day MA of 13.59, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 64.15 is Neutral, neither overbought nor oversold. The STOCH value of 86.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FFIC.

Flushing Financial Risk Analysis

Flushing Financial disclosed 14 risk factors in its most recent earnings report. Flushing Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Flushing Financial Peers Comparison

Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
$467.24M16.527.25%4.00%11.46%-1.07%
71
Outperform
$522.72M12.2215.17%1.07%6.99%12.46%
67
Neutral
$452.67M25.092.27%3.71%24.39%-56.57%
67
Neutral
$459.79M15.107.44%3.04%22.16%-15.57%
64
Neutral
$6.68B11.246.71%5.07%25.00%2.19%
53
Neutral
$594.43M-23.15%-10.84%-58.05%
52
Neutral
$429.98M16.43-6.53%6.91%-5.55%-242.39%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FFIC
Flushing Financial
12.60
0.66
5.53%
ACNB
ACNB
43.90
11.36
34.91%
AROW
Arrow Financial
27.38
2.60
10.49%
UNTY
Unity Bancorp
52.11
25.07
92.71%
COFS
ChoiceOne Financial Services
30.21
5.19
20.74%
ALTI
Alvarium Tiedemann Holdings
4.10
-0.24
-5.53%

Flushing Financial Corporate Events

Executive/Board ChangesShareholder Meetings
Flushing Financial Holds Annual Stockholder Meeting
Neutral
May 29, 2025

At Flushing Financial‘s annual stockholder meeting on May 28, 2025, several key matters were voted on, including the election of directors and the approval of executive compensation. Four directors were elected to serve until the 2028 meeting, and the advisory approval of executive compensation passed with a significant majority. Additionally, the appointment of BDO USA, P.C. as the independent registered public accounting firm for 2025 was ratified, indicating continued confidence in the company’s financial oversight.

The most recent analyst rating on (FFIC) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.

Dividends
Flushing Financial Declares Quarterly Dividend Announcement
Positive
May 28, 2025

Flushing Financial Corporation announced that its Board of Directors declared a quarterly dividend of $0.22 per common share, to be paid on June 20, 2025, to shareholders of record as of June 13, 2025. This decision reflects the company’s ongoing commitment to returning value to its shareholders.

The most recent analyst rating on (FFIC) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.

Financial Disclosures
Flushing Financial Reports Strong Q1 2025 Liquidity
Positive
May 21, 2025

On May 21, 2025, Flushing Financial Corp. released its financial highlights for the first quarter of 2025, showcasing a strong liquidity position with $4 billion in undrawn lines and resources. The company reported an improved loan-to-deposit ratio, with average total deposits increasing by 6.8% year-over-year. Despite a decrease in net loans due to weak market demand, the company achieved a net interest margin (NIM) expansion, with GAAP NIM increasing by 12 basis points quarter-over-quarter. Flushing Financial also emphasized its low-risk credit profile and conservative loan underwriting, maintaining strong asset quality and outperforming industry standards in credit metrics.

The most recent analyst rating on (FFIC) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Flushing Financial stock, see the FFIC Stock Forecast page.

Financial Disclosures
Flushing Financial Reports Strong Q1 2025 Results
Positive
Apr 29, 2025

On April 29, 2025, Flushing Financial Corp. released its first quarter results for 2025, highlighting strong liquidity with $4.0 billion in undrawn lines and resources. The company reported an improved loan to deposit ratio and an increase in average total deposits. Despite a decrease in net loans due to weak market demand, the company maintained a stable tangible common equity ratio. The net interest margin (NIM) expanded, reflecting improved profitability. Flushing Financial continues to focus on enhancing profitability and maintaining a low-risk credit profile, with a history of better than industry credit quality.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 28, 2025