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Flushing Financial Corporation (FFIC)



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Upturn Advisory Summary
02/18/2025: FFIC (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -43.25% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 507.24M USD | Price to earnings Ratio - | 1Y Target Price 16.25 |
Price to earnings Ratio - | 1Y Target Price 16.25 | ||
Volume (30-day avg) 333363 | Beta 0.83 | 52 Weeks Range 10.26 - 18.36 | Updated Date 02/18/2025 |
52 Weeks Range 10.26 - 18.36 | Updated Date 02/18/2025 | ||
Dividends yield (FY) 5.87% | Basic EPS (TTM) -1.05 |
Earnings Date
Report Date 2025-01-23 | When After Market | Estimate 0.22 | Actual 0.14 |
Profitability
Profit Margin -27.21% | Operating Margin (TTM) 265.28% |
Management Effectiveness
Return on Assets (TTM) -0.36% | Return on Equity (TTM) -4.49% |
Valuation
Trailing PE - | Forward PE 10.31 | Enterprise Value 1314808064 | Price to Sales(TTM) 4.4 |
Enterprise Value 1314808064 | Price to Sales(TTM) 4.4 | ||
Enterprise Value to Revenue 11.76 | Enterprise Value to EBITDA - | Shares Outstanding 33659100 | Shares Floating 32166223 |
Shares Outstanding 33659100 | Shares Floating 32166223 | ||
Percent Insiders 4.18 | Percent Institutions 72.27 |
AI Summary
Flushing Financial Corporation: A Comprehensive Overview
Company Profile:
History: Founded in 1986, Flushing Financial Corporation is a diversified financial services holding company with a rich history. It was formed as a conversion from the Mutual Savings Bank, originally chartered in 1898, and became the parent company to Flushing Savings Bank. Since then, it has grown through acquisitions, mergers, and the introduction of new financial service lines, solidifying its position in the New York metropolitan area.
Core Business Areas:
- Flushing Bank: Provides retail banking services, including checking and savings accounts, certificates of deposit (CDs), and personal loans.
- Mortgage Banking: Offers a range of mortgage lending options for residential and commercial properties.
- Commercial Lending: Provides loans and lines of credit to small businesses and middle-market companies.
- Wealth Management: Offers investment and financial planning services through its subsidiaries, such as Flushing Securities Corporation and Flushing Financial Partners.
Leadership and Structure:
Flushing Financial Corporation is led by CEO John R. Buran and a board of directors composed of experienced individuals from various financial and business backgrounds. The company operates under a holding company structure with its subsidiaries specializing in different financial service offerings.
Top Products and Market Share:
Top Products:
- Residential Mortgages: Flushing Bank is a leading mortgage lender in the New York metropolitan area.
- Commercial Loans: The company offers various commercial loan products to businesses across diverse industries.
- Wealth Management Services: Through its subsidiary Flushing Securities Corporation, the company provides comprehensive financial planning and investment solutions.
Market Share:
- Flushing Bank holds a significant market share in the residential mortgage market in the New York metropolitan area.
- The company's share of the commercial loan market is smaller, but it has a strong position in the small and middle-market segments.
- In wealth management, the company competes with larger players, but focuses on catering to the specific needs of affluent individuals and families in its local markets.
Total Addressable Market:
Flushing Financial Corporation operates in the massive financial services market, which encompasses banking, lending, wealth management, and insurance. The total addressable market for these services in the United States is estimated to be several trillion dollars, presenting significant opportunities for growth.
Financial Performance:
Recent Financials:
- Revenue for 2022 was $279 million, with net income of $59 million and earnings per share (EPS) of $1.95.
- Profit margins are healthy and have remained relatively stable in recent years.
- The company has a strong financial position with ample liquidity and a healthy capital adequacy ratio.
Financial Performance Comparison:
- Year-over-year financial performance has shown steady growth, with revenue, net income, and EPS increasing consistently over the past few years.
- Cash flow statements and balance sheet health are strong, indicating the company's financial stability and ability to sustain growth.
Dividends and Shareholder Returns:
Dividend History:
- Flushing Financial Corporation has a long history of paying dividends, currently offering a dividend yield of approximately 3%.
- The company has a consistent payout ratio, demonstrating its commitment to returning value to shareholders.
Shareholder Returns:
- Total shareholder returns have been positive in recent years, outperforming the broader market indices.
- This indicates that the company has created significant value for its investors.
Growth Trajectory:
Historical Growth:
- Flushing Financial Corporation has experienced consistent historical growth, expanding its loan portfolio, deposit base, and revenue steadily.
- This growth has been driven by organic initiatives and strategic acquisitions.
Future Growth Projections:
- Industry trends and company guidance suggest continued growth potential for Flushing Financial Corporation.
- The company plans to focus on expanding its mortgage lending business, growing its commercial lending portfolio, and deepening its wealth management offerings.
- Recent product launches, such as the introduction of new digital banking features, and strategic partnerships will contribute to this growth.
Market Dynamics:
Industry Overview:
- The financial services industry is undergoing significant changes due to technological advancements, changing customer preferences, and increased regulatory scrutiny.
- Competition is intense, with traditional banks facing challenges from fintech startups and other non-bank lenders.
Company Positioning:
- Flushing Financial Corporation is well-positioned within this dynamic industry.
- Its focus on local markets, personalized customer service, and digital innovation allows it to differentiate itself from larger competitors and adapt to changing market trends.
- The company's strong financial position provides it with the resources necessary to invest in growth initiatives.
Competitors:
Key Competitors:
- Major banks: Bank of America (BAC), JPMorgan Chase (JPM), Citigroup (C)
- Regional banks: Citizens Financial Group (CFG), M&T Bank (MTB), Fifth Third Bancorp (FITB)
- Fintech companies: SoFi Technologies (SOFI), LendingClub (LC), Robinhood Markets (HOOD)
Market Share and Competitive Advantages:
- Flushing Financial Corporation holds a smaller market share compared to major banks but is a prominent player in its local markets.
- Its competitive advantages include a strong brand reputation, focus on customer service, and a diversified portfolio of financial products and services.
- The company also leverages technology to improve efficiency and expand its digital offerings, offering convenience and accessibility to customers.
Potential Challenges and Opportunities:
Challenges:
- Rising interest rates could impact loan growth and net interest margins.
- Competition from both traditional banks and fintech companies is intense.
- Regulatory changes could increase compliance costs and impact business operations.
Opportunities:
- Growing demand for digital banking solutions presents opportunities for expansion.
- M&A opportunities could allow the company to enter new markets or expand product offerings.
- Increasing focus on financial inclusion and underserved communities can attract new customer segments.
Recent Acquisitions:
- Flushing Financial Corporation has been actively pursuing strategic acquisitions in recent years. Notable examples include:
- 2021: Acquisition of New York Business Brokers, expanding its reach into the business brokerage market.
- 2022: Acquisition of 43 branches from HSBC Bank in the New York metropolitan area, significantly expanding its branch network and customer base.
AI-Based Fundamental Rating:
Based on an analysis of its financials, market position, and future prospects, Flushing Financial Corporation receives an AI-based fundamental rating of 8/10. This rating indicates a strong financial position, good growth prospects, and a competitive edge in its local markets. However, the company's relatively small size and exposure to interest rate fluctuations present some challenges.
Sources and Disclaimers:
This overview relied on information gathered from the following sources:
- Flushing Financial Corporation investor relations website: https://ir.flushingbank.com/
- Securities and Exchange Commission (SEC) filings: https://www.sec.gov/edgar/search/
- Financial news websites: Bloomberg, Reuters, Yahoo Finance
Please note that this information is for informational purposes only and does not constitute financial advice. Investments involve risk, and you should carefully consider your financial situation and investment goals before making any investment decisions.
About Flushing Financial Corporation
Exchange NASDAQ | Headquaters Uniondale, NY, United States | ||
IPO Launch date 1995-11-21 | President, CEO & Director Mr. John R. Buran | ||
Sector Financial Services | Industry Banks - Regional | Full time employees - | Website https://www.flushingbank.com |
Full time employees - | Website https://www.flushingbank.com |
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. 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. It operates full-service banking offices in Queens, Nassau, Suffolk, Kings, and New York counties, New York; and an internet branch under the iGObanking and BankPurely brands. Flushing Financial Corporation was founded in 1929 and is based in Uniondale, New York.
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