Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 8 highly experienced directors. Director Doug Manditch was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Aankondiging • Jan 28
Flushing Financial Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2025 Flushing Financial Corporation reported net charge offs for the fourth quarter ended December 31, 2025. For the quarter, the company reported net charge-offs were $1.8 million in fourth quarter of 2025 compared to $4.7 million in fourth quarter of 2024. Aankondiging • Dec 30
OceanFirst Financial Corp. (NasdaqGS:OCFC) signed a definitive merger agreement to acquire Flushing Financial Corporation (NasdaqGS:FFIC) for approximately $570 million. OceanFirst Financial Corp. (NasdaqGS:OCFC) signed a definitive merger agreement to acquire Flushing Financial Corporation (NasdaqGS:FFIC) for approximately $570 million on December 29, 2025. The consideration consists of common equity of OceanFirst Financial Corp. having a value of $567.34 million to be issued for common equity of Flushing Financial Corporation. As part of consideration, $567.34 million is paid towards common equity of Flushing Financial Corporation. Upon completion of the Flushing merger, Flushing Bank will merge into OceanFirst Bank, with OceanFirst Bank surviving the bank merger.
The transaction is subject to approval by regulatory board, approval of offer by acquirer shareholders and approval of offer by target shareholders. The transaction is expected to close in the second quarter of 2026.
Simpson Thacher & Bartlett LLP acted as legal advisor for OceanFirst Financial Corp. Keefe, Bruyette & Woods, Inc. acted as financial advisor for OceanFirst Financial Corp. Piper Sandler & Co. acted as financial advisor for Flushing Financial Corporation. Hughes Hubbard & Reed LLP acted as legal advisor for Flushing Financial Corporation. Aankondiging • Dec 17
Flushing Financial Corporation to Report Q4, 2025 Results on Jan 27, 2026 Flushing Financial Corporation announced that they will report Q4, 2025 results After-Market on Jan 27, 2026 Aankondiging • Oct 30
Flushing Financial Corporation Reports Net Charge-Offs for the Third Quarter Ended September 30, 2025 Flushing Financial Corporation reported Net charge-offs for the third quarter ended September 30, 2025. For the quarter, the company reported Net charge-offs were $1.1 million (7 bps of average loans) compared to $3.0 million (18 bps of average loans) in third quarter of 2024. Aankondiging • Jul 25
Flushing Financial Corporation to Report Q3, 2025 Results on Oct 28, 2025 Flushing Financial Corporation announced that they will report Q3, 2025 results After-Market on Oct 28, 2025 Aankondiging • Apr 30
Flushing Financial Corporation to Report Q2, 2025 Results on Jul 24, 2025 Flushing Financial Corporation announced that they will report Q2, 2025 results After-Market on Jul 24, 2025 Aankondiging • Apr 18
Flushing Financial Corporation, Annual General Meeting, May 28, 2025 Flushing Financial Corporation, Annual General Meeting, May 28, 2025. Aankondiging • Feb 27
Flushing Financial Corporation announces Quarterly dividend, payable on March 28, 2025 Flushing Financial Corporation announced Quarterly dividend of USD 0.2200 per share payable on March 28, 2025, ex-date on March 14, 2025 and record date on March 14, 2025. Aankondiging • Jan 30
Flushing Financial Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2024 Flushing Financial Corporation reported net charge offs for the fourth quarter ended December 31, 2024. For the quarter, the company reported net charge-offs were $4.7 million compared to $60,000 in fourth quarter 2023. Aankondiging • Jan 29
Flushing Financial Corporation to Report Q1, 2025 Results on Apr 29, 2025 Flushing Financial Corporation announced that they will report Q1, 2025 results at 7:00 PM, US Eastern Standard Time on Apr 29, 2025 Aankondiging • Dec 13
Flushing Financial Corporation has filed a Follow-on Equity Offering. Flushing Financial Corporation has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock Aankondiging • Nov 20
Flushing Financial Corporation Declares Quarterly Dividend, Payable on December 20, 2024 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.22 per common share, payable on December 20, 2024, to shareholders of record at the close of business on December 6, 2024. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €16.20, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 8.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.91 per share. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (101% payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Significant insider selling over the past 3 months (€317k sold). Recent Insider Transactions • Nov 04
Executive VP recently sold €119k worth of stock On the 31st of October, Astrid Burrowes sold around 8k shares on-market at roughly €14.91 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €696k more than they bought in the last 12 months. Buy Or Sell Opportunity • Nov 03
Now 22% undervalued Over the last 90 days, the stock has risen 19% to €14.30. The fair value is estimated to be €18.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has declined by 40%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 61% in the next 2 years. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$0.30 (vs US$0.26 in 3Q 2023) Third quarter 2024 results: EPS: US$0.30 (up from US$0.26 in 3Q 2023). Revenue: US$50.3m (up 6.8% from 3Q 2023). Net income: US$8.91m (up 14% from 3Q 2023). Profit margin: 18% (up from 17% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Aankondiging • Oct 25
Flushing Financial Corporation to Report Q4, 2024 Results on Jan 28, 2025 Flushing Financial Corporation announced that they will report Q4, 2024 results After-Market on Jan 28, 2025 New Risk • Aug 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (105% payout ratio). Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (13% net profit margin). Significant insider selling over the past 3 months (€55k sold). Declared Dividend • Aug 26
Second quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 6th September 2024 Payment date: 27th September 2024 Dividend yield will be 7.0%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. EPS is expected to grow by 20% over the next year, which is sufficient to bring the dividend into a sustainable range. Recent Insider Transactions • Aug 25
Senior EVP recently sold €55k worth of stock On the 20th of August, Maria Grasso sold around 5k shares on-market at roughly €12.15 per share. This transaction amounted to 5.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Maria has been a net seller over the last 12 months, reducing personal holdings by €106k. Aankondiging • Aug 21
Flushing Financial Corporation Declares Quarterly Dividend, Payable on September 27, 2024 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.22 per common share, payable on September 27, 2024, to shareholders of record at the close of business on September 6, 2024. Aankondiging • Aug 09
Lawrence Seidman Pushes Flushing Financial to Sell On August 8, 2024, Lawrence Seidman announced that he has urged Flushing Financial Corp. to sell to a larger financial institution after the Company reported weak second-quarter earnings and said it would pivot its lending away from commercial real estate. Lawrence Seidman said that he sent the Company a letter outlining his concerns and advocating for a sale. Lawrence Seidman said the letter to the Company is not a proxy contest but gives the Company formal notice of his feelings as a major stakeholder. In the letter, Lawrence Seidman suggested the bank sell to an ethnically focused banking institution. Flushing Financial has a substantial Asian-American client base and an ethnically focused bank embedded in the Company, with $746 million in?loans and $1.3 billion in deposits from members of the Asian community. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €12.70, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.99 per share. Reported Earnings • Jul 31
Second quarter 2024 earnings released: EPS: US$0.18 (vs US$0.25 in 2Q 2023) Second quarter 2024 results: EPS: US$0.18 (down from US$0.25 in 2Q 2023). Revenue: US$46.2m (down 1.6% from 2Q 2023). Net income: US$5.32m (down 30% from 2Q 2023). Profit margin: 12% (down from 16% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Aankondiging • Jul 30
Flushing Financial Corporation to Report Q3, 2024 Results on Oct 24, 2024 Flushing Financial Corporation announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €13.90, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 7.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.82 per share. Aankondiging • Jun 19
Flushing Financial Corporation to Report Q2, 2024 Results on Jul 29, 2024 Flushing Financial Corporation announced that they will report Q2, 2024 results After-Market on Jul 29, 2024 Buy Or Sell Opportunity • May 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.3% to €11.20. The fair value is estimated to be €14.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 2.6% in a year. Earnings are forecast to decline by 13% in the next year. Aankondiging • May 30
Flushing Financial Corporation Declares Quarterly Dividend, Payable on June 21, 2024 Flushing Financial Corporation announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on June 21, 2024, to shareholders of record at the close of business on June 10, 2024. Buy Or Sell Opportunity • Apr 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to €10.40. The fair value is estimated to be €13.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 2.7% in a year. Earnings are forecast to decline by 13% in the next year. Buy Or Sell Opportunity • Apr 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to €10.40. The fair value is estimated to be €13.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 2.7% in a year. Earnings are forecast to decline by 13% in the next year. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$0.12 (vs US$0.17 in 1Q 2023) First quarter 2024 results: EPS: US$0.12 (down from US$0.17 in 1Q 2023). Revenue: US$44.9m (flat on 1Q 2023). Net income: US$3.68m (down 29% from 1Q 2023). Profit margin: 8.2% (down from 12% in 1Q 2023). Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 20
Flushing Financial Corporation, Annual General Meeting, May 29, 2024 Flushing Financial Corporation, Annual General Meeting, May 29, 2024, at 13:00 US Eastern Standard Time. Agenda: To elect four directors for a three-year term and until their successors are elected and qualified; to approve, on an advisory basis, the Company’s executive compensation; to approve the Company’s 2024 Omnibus Incentive Plan; to ratify the appointment of BDO USA, P.C. by the Audit Committee of the Board of Directors as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024; and to consider other matters. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: US$0.96 (vs US$2.50 in FY 2022) Full year 2023 results: EPS: US$0.96 (down from US$2.50 in FY 2022). Revenue: US$191.2m (down 23% from FY 2022). Net income: US$28.7m (down 63% from FY 2022). Profit margin: 15% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.24% (down from 3.11% in FY 2022). Non-performing loans: 0.36% (down from 0.47% in FY 2022). Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Declared Dividend • Mar 04
Fourth quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 8th March 2024 Payment date: 22nd March 2024 Dividend yield will be 7.1%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio). However, the dividend is expected to be covered in 3 years' time (70% forecast payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 2.1% to bring the payout ratio under control. EPS is expected to grow by 32% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Recent Insider Transactions • Mar 03
Insider recently sold €232k worth of stock On the 23rd of February, Thomas Buonaiuto sold around 19k shares on-market at roughly €12.21 per share. This transaction amounted to 44% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €353k more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to €12.40, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 14% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.77 per share. Reported Earnings • Jan 26
Full year 2023 earnings released: EPS: US$0.96 (vs US$2.50 in FY 2022) Full year 2023 results: EPS: US$0.96 (down from US$2.50 in FY 2022). Revenue: US$191.2m (down 23% from FY 2022). Net income: US$28.7m (down 63% from FY 2022). Profit margin: 15% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Recent Insider Transactions • Dec 23
Independent Director recently sold €98k worth of stock On the 18th of December, Steven D’Iorio sold around 7k shares on-market at roughly €15.04 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €121k more than they bought in the last 12 months. Upcoming Dividend • Nov 30
Upcoming dividend of US$0.22 per share at 6.1% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 22 December 2023. Payout ratio and cash payout ratio are on the higher end at 79% and 96% respectively. Trailing yield: 6.1%. Within top quartile of German dividend payers (5.1%). In line with average of industry peers (6.4%). Buying Opportunity • Nov 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.3%. The fair value is estimated to be €15.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.2% over the last 3 years. Earnings per share has grown by 4.1%. Revenue is forecast to grow by 15% in 2 years. Earnings is forecast to grow by 2.5% in the next 2 years. Reported Earnings • Nov 04
Third quarter 2023 earnings released: EPS: US$0.32 (vs US$0.76 in 3Q 2022) Third quarter 2023 results: EPS: US$0.32 (down from US$0.76 in 3Q 2022). Revenue: US$47.3m (down 31% from 3Q 2022). Net income: US$9.40m (down 60% from 3Q 2022). Profit margin: 20% (down from 34% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Aankondiging • Nov 01
Flushing Financial Corporation to Report Q4, 2023 Results on Jan 25, 2024 Flushing Financial Corporation announced that they will report Q4, 2023 results After-Market on Jan 25, 2024 Buying Opportunity • Oct 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €14.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 0.3% in 2 years. Earnings is forecast to decline by 21% in the next 2 years. Buying Opportunity • Oct 09
Now 20% undervalued Over the last 90 days, the stock is up 8.4%. The fair value is estimated to be €14.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 15%. Revenue is forecast to grow by 0.3% in 2 years. Earnings is forecast to decline by 21% in the next 2 years. Upcoming Dividend • Aug 31
Upcoming dividend of US$0.22 per share at 6.3% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 6.3%. Within top quartile of German dividend payers (4.9%). In line with average of industry peers (6.1%). Aankondiging • Aug 17
Flushing Financial Corporation Declares Quarterly Dividend, Payable on September 29, 2023 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.22 per common share, payable on September 29, 2023, to shareholders of record at the close of business on September 8, 2023. Aankondiging • Jul 28
Flushing Financial Corporation to Report Q3, 2023 Results on Oct 31, 2023 Flushing Financial Corporation announced that they will report Q3, 2023 results at 7:00 PM, US Eastern Standard Time on Oct 31, 2023 Reported Earnings • Jul 26
Second quarter 2023 earnings released: EPS: US$0.29 (vs US$0.81 in 2Q 2022) Second quarter 2023 results: EPS: US$0.29 (down from US$0.81 in 2Q 2022). Revenue: US$47.1m (down 33% from 2Q 2022). Net income: US$8.63m (down 66% from 2Q 2022). Profit margin: 18% (down from 36% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.5% p.a. on average during the next 2 years, while revenues in the Banks industry in Europe are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 26
Flushing Financial Corporation Reports Net Charge-Offs for the Second Quarter Ended June 30, 2023 Flushing Financial Corporation reported net charge-offs for the second quarter ended June 30, 2023. For the quarter, the company reported net charge-offs of $1,560,000 compared to net recoveries of $501,000 a year ago. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €12.60, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €12.88 per share. Upcoming Dividend • May 25
Upcoming dividend of US$0.22 per share at 7.5% yield Eligible shareholders must have bought the stock before 01 June 2023. Payment date: 23 June 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 7.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (6.3%). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €10.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.13 per share. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €9.25, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 4.0% over the past three years. Reported Earnings • Mar 16
Full year 2022 earnings released: EPS: US$2.50 (vs US$2.59 in FY 2021) Full year 2022 results: EPS: US$2.50 (down from US$2.59 in FY 2021). Revenue: US$248.5m (down 3.1% from FY 2021). Net income: US$76.9m (down 5.9% from FY 2021). Profit margin: 31% (in line with FY 2021). Net interest margin (NIM): 3.11% (down from 3.24% in FY 2021). Non-performing loans: 0.47% (up from 0.23% in FY 2021). Revenue is expected to decline by 2.2% p.a. on average during the next 2 years, while revenues in the Banks industry in Europe are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to €11.90, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.83 per share. Buying Opportunity • Mar 11
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €21.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to decline by 5.3% in 2 years. Earnings is forecast to decline by 30% in the next 2 years. Buying Opportunity • Jan 31
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €21.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to decline by 4.3% in 2 years. Earnings is forecast to decline by 26% in the next 2 years. Aankondiging • Jan 29
Flushing Financial Corporation to Report Q1, 2023 Results on Apr 25, 2023 Flushing Financial Corporation announced that they will report Q1, 2023 results After-Market on Apr 25, 2023 Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$2.50 (vs US$2.59 in FY 2021) Full year 2022 results: EPS: US$2.50 (down from US$2.59 in FY 2021). Revenue: US$248.5m (down 3.1% from FY 2021). Net income: US$76.9m (down 5.9% from FY 2021). Profit margin: 31% (in line with FY 2021). Revenue is forecast to stay flat during the next 2 years compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Aankondiging • Jan 27
Flushing Financial Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2022 Flushing Financial Corporation reported net charge offs for the fourth quarter ended December 31, 2022. For the quarter, the company reported net charge-offs were $0.8 million. Aankondiging • Jan 06
Flushing Financial Corporation Announces Retirement of Michael J. Russo as Board Member Flushing Financial Corporation announced that Michael J. Russo, a Board Member, has retired effective January 4, 2023.Michael J. Russo, served as a Director on the Board of the Company and the Bank. He was a member of the Board of Directors of the Company since its formation in 1994 and of the Bank since 1984.Michael J. Russo is self-employed as a consulting engineer and serves as Chief Executive Officer and Corporate Secretary of Fresh Meadow Mechanical Corp., a mechanical contracting firm. Mr. Russo is also President and Director of Operations of Northeastern Aviation Corp., an aircraft charter and management firm, and is a partner in AMF Associates, a commercial real estate company. Mr. Russo also serves as Chairman of the Board of Trustees of Flushing Hospital Medical Center. Prior to retiring in 2004, Mr. Russo served as Chairman of the Board of Anthony Russo Inc., a general contracting firm, for over 40 years. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 23 December 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.2%). Aankondiging • Nov 23
Flushing Financial Corporation Declares Quarterly Dividend, Payable on December 23, 2022 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.22 per common share, payable on December 23, 2022 to shareholders of record at the close of business on December 9, 2022. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 9 highly experienced directors. Director Doug Manditch was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: US$0.76 (vs US$0.81 in 3Q 2021) Third quarter 2022 results: EPS: US$0.76 (down from US$0.81 in 3Q 2021). Revenue: US$68.1m (down 4.4% from 3Q 2021). Net income: US$23.4m (down 7.8% from 3Q 2021). Profit margin: 34% (down from 36% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 5.2%. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 25
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.5%). Aankondiging • Aug 17
Flushing Financial Corporation Declares Quarterly Dividend on Its Common Stock, Payable on September 30, 2022 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.22 per common share, payable on September 30, 2022 to shareholders of record at the close of business on September 2, 2022. Recent Insider Transactions • Aug 06
Insider recently sold €109k worth of stock On the 2nd of August, Francis Korzekwinski sold around 5k shares on-market at roughly €21.74 per share. In the last 3 months, there was an even bigger sale from another insider worth €127k. Insiders have been net sellers, collectively disposing of €198k more than they bought in the last 12 months. Aankondiging • Jul 28
Flushing Financial Corporation to Report Q3, 2022 Results on Oct 25, 2022 Flushing Financial Corporation announced that they will report Q3, 2022 results After-Market on Oct 25, 2022 Reported Earnings • Jul 27
Second quarter 2022 earnings released: EPS: US$0.81 (vs US$0.61 in 2Q 2021) Second quarter 2022 results: EPS: US$0.81 (up from US$0.61 in 2Q 2021). Revenue: US$70.5m (up 19% from 2Q 2021). Net income: US$25.0m (up 30% from 2Q 2021). Profit margin: 36% (up from 32% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 3.9% compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 19
Senior EVP recently sold €127k worth of stock On the 15th of June, Maria Grasso sold around 6k shares on-market at roughly €21.15 per share. This was the largest sale by an insider in the last 3 months. This was Maria's only on-market trade for the last 12 months. Upcoming Dividend • May 26
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 24 June 2022. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.3%). Lower than average of industry peers (6.4%). Aankondiging • May 18
Flushing Financial Corporation Declares Quarterly Dividend, Payable on June 24, 2022 The board of Flushing Financial Corporation declared a quarterly dividend on its common stock of $0.22 per common share, payable on June 24, 2022 to shareholders of record at the close of business on June 3, 2022. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Director Doug Manditch was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 08
Flushing Financial Corporation, Annual General Meeting, May 17, 2022 Flushing Financial Corporation, Annual General Meeting, May 17, 2022, at 13:00 US Eastern Standard Time. Agenda: To elect four directors for a three-year term and until their successors are elected and qualified; to approve, on an advisory basis, the Company’s executive compensation; to ratify the appointment of BDO USA, LLP by the Audit Committee of the Board of Directors as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022; and to transact such other business as may properly come before the meeting or any adjournment thereof. Board Change • Apr 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Director Doug Manditch was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 10
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$2.59 (up from US$1.18 in FY 2020). Revenue: US$256.6m (up 40% from FY 2020). Net income: US$81.8m (up 136% from FY 2020). Profit margin: 32% (up from 19% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.24% (up from 2.85% in FY 2020). Non-performing loans: 0.23% (down from 0.31% in FY 2020). Revenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 2.0%, compared to a 9.0% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 03
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 25 March 2022. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 3.5%. Within top quartile of German dividend payers (3.4%). Lower than average of industry peers (5.8%). Board Change • Mar 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Director Doug Manditch was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Feb 24
Flushing Financial Corporation Declares Quarterly Dividend, Payable on March 25, 2022 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.22 per common share, an increase of $0.01 per share from the prior quarter’s dividend, payable on March 25, 2022 to shareholders of record at the close of business on March 11, 2022. Reported Earnings • Jan 29
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$2.59 (up from US$1.18 in FY 2020). Revenue: US$256.6m (up 40% from FY 2020). Net income: US$81.8m (up 136% from FY 2020). Profit margin: 32% (up from 19% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 2.3%, compared to a 11% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year. Aankondiging • Jan 28
Flushing Financial Corporation to Report Q1, 2022 Results on Apr 26, 2022 Flushing Financial Corporation announced that they will report Q1, 2022 results After-Market on Apr 26, 2022 Upcoming Dividend • Dec 02
Upcoming dividend of US$0.21 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 31 December 2021. Trailing yield: 3.6%. Within top quartile of German dividend payers (3.3%). In line with average of industry peers (3.4%). Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS US$0.81 (vs US$0.50 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$71.2m (up 46% from 3Q 2020). Net income: US$25.4m (up 77% from 3Q 2020). Profit margin: 36% (up from 29% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 1% per year. Upcoming Dividend • Aug 26
Upcoming dividend of US$0.21 per share Eligible shareholders must have bought the stock before 02 September 2021. Payment date: 24 September 2021. Trailing yield: 3.7%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (3.2%). Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS US$0.61 (vs US$0.63 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: US$59.4m (up 13% from 2Q 2020). Net income: US$19.3m (up 5.4% from 2Q 2020). Profit margin: 32% (down from 35% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year. Recent Insider Transactions • Jun 13
Director recently sold €733k worth of stock On the 10th of June, Douglas Manditch sold around 39k shares on-market at roughly €18.81 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €477k more than they bought in the last 12 months. Upcoming Dividend • May 27
Upcoming dividend of US$0.21 per share Eligible shareholders must have bought the stock before 03 June 2021. Payment date: 25 June 2021. Trailing yield: 3.7%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.7%). Aankondiging • May 19
Flushing Financial Corporation Declares Quarterly Dividend, Payable on June 25, 2021 Flushing Financial Corporation announced that the Board of Directors declared a quarterly dividend on its common stock of $0.21 per common share, payable on June 25, 2021 to shareholders of record at the close of business on June 4, 2021. 
