NasdaqGS:FFIC

Stock Analysis Report

Executive Summary

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.

Rewards

PE ratio (14.7x) is below the US market (18.4x)

Earnings are forecast to grow 24.13% per year

Pays a high and reliable dividend of 4.01%

Risk Analysis

No risks detected for FFIC from our risk checks.


Snowflake Analysis

Flawless balance sheet 6 star dividend payer.


Similar Companies

Share Price & News

How has Flushing Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FFIC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.1%

FFIC

1.2%

US Banks

0.8%

US Market


1 Year Return

-5.2%

FFIC

22.1%

US Banks

17.8%

US Market

Return vs Industry: FFIC underperformed the US Banks industry which returned 22.1% over the past year.

Return vs Market: FFIC underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

FFICIndustryMarket
7 Day0.1%1.2%0.8%
30 Day-2.2%0.9%1.8%
90 Day1.9%9.2%4.1%
1 Year-1.4%-5.2%25.7%22.1%20.4%17.8%
3 Year-17.7%-25.3%31.9%22.7%45.9%36.4%
5 Year23.6%5.4%75.8%56.2%68.1%49.6%

Price Volatility Vs. Market

How volatile is Flushing Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Flushing Financial undervalued compared to its fair value and its price relative to the market?

14.71x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FFIC ($20.95) is trading above our estimate of fair value ($17.97)

Significantly Below Fair Value: FFIC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FFIC is poor value based on its PE Ratio (14.7x) compared to the Banks industry average (12.7x).

PE vs Market: FFIC is good value based on its PE Ratio (14.7x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: FFIC is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: FFIC is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Flushing Financial forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

24.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FFIC's forecast earnings growth (24.1% per year) is above the savings rate (1.7%).

Earnings vs Market: FFIC's earnings (24.1% per year) are forecast to grow faster than the US market (14.2% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FFIC's revenue (8.8% per year) is forecast to grow faster than the US market (7.4% per year).

High Growth Revenue: FFIC's revenue (8.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if FFIC's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Flushing Financial performed over the past 5 years?

-0.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FFIC has high quality earnings.

Growing Profit Margin: FFIC's current net profit margins (25.6%) are lower than last year (27.4%).


Past Earnings Growth Analysis

Earnings Trend: FFIC's earnings have declined by -0.2% per year over the past 5 years.

Accelerating Growth: FFIC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FFIC had negative earnings growth (-16.2%) over the past year, making it difficult to compare to the Banks industry average (27.1%).


Return on Equity

High ROE: FFIC's Return on Equity (7.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Flushing Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FFIC has a low level of unsold assets or inventory.

Debt Coverage by Assets: FFIC's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: FFIC's level of assets compared to its equity is moderate.

Allowance for Bad Loans: FFIC has a sufficient allowance for bad loans.

Low Risk Liabilities: FFIC's liabilities are made up of primarily low risk sources of funding.

Loan Level: FFIC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FFIC's loans are broadly funded by customer deposits.

Level of Bad Loans: FFIC has an appropriate level of bad loans (0.26%)


Next Steps

Dividend

What is Flushing Financial's current dividend yield, its reliability and sustainability?

4.01%

Current Dividend Yield


Dividend Yield vs Market

company4.0%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Years4.0%

Current dividend yield vs market & industry

Notable Dividend: FFIC's dividend (4.01%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: FFIC's dividend (4.01%) is in the top 25% of dividend payers in the US market (3.72%)


Stability and Growth of Payments

Stable Dividend: FFIC's dividends per share have been stable in the past 10 years.

Growing Dividend: FFIC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (58.3%), FFIC's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FFIC's dividends in 3 years are forecast to be well covered by earnings (42.8% payout ratio).


Next Steps

Management

What is the CEO of Flushing Financial's salary, the management and board of directors tenure and is there insider trading?

11.7yrs

Average management tenure


CEO

John Buran (70yo)

14.4yrs

Tenure

US$2,224,013

Compensation

Mr. John R. Buran has been the Chief Executive Officer and President of Flushing Financial Corporation since July 1, 2005. Mr. Buran has been the Chief Executive Officer and President of Flushing Bank sinc ...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD2.22M) is above average for companies of similar size in the US market ($USD1.69M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.


Management Age and Tenure

11.7yrs

Average Tenure

60.5yo

Average Age

Experienced Management: FFIC's management team is seasoned and experienced (11.7 years average tenure).


Board Age and Tenure

16.0yrs

Average Tenure

70yo

Average Age

Experienced Board: FFIC's board of directors are seasoned and experienced ( 16 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$38,38012 Sep 19
John Buran
EntityIndividual
Role
Chief Executive Officer
President
Shares2,000
Max PriceUS$19.19
BuyUS$1,90612 Aug 19
Susan Cullen
EntityIndividual
Role
Chief Financial Officer
Senior EVP
Shares100
Max PriceUS$19.06
BuyUS$5,74807 Aug 19
Susan Cullen
EntityIndividual
Role
Chief Financial Officer
Senior EVP
Shares300
Max PriceUS$19.21
BuyUS$2,14930 May 19
Susan Cullen
EntityIndividual
Role
Chief Financial Officer
Senior EVP
Shares100
Max PriceUS$21.49
SellUS$186,72022 Feb 19
Maria Grasso
EntityIndividual
Role
Chief Operating Officer
Senior EVP
Shares8,000
Max PriceUS$23.34
SellUS$153,82521 Feb 19
Francis Korzekwinski
EntityIndividual
Role
Senior Key Executive
Senior EVP & Chief of Real Estate Lending
Shares6,615
Max PriceUS$23.26

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Frank Korzekwinski (56yo)

    Senior EVP & Chief of Real Estate Lending

    • Tenure: 20.9yrs
    • Compensation: US$948.88k
  • John Buran (70yo)

    President

    • Tenure: 14.4yrs
    • Compensation: US$2.22m
  • Maria Grasso (55yo)

    Senior EVP

    • Tenure: 13.6yrs
    • Compensation: US$1.11m
  • Ronald Hartmann (63yo)

    Executive VP & Director of Commercial Real Estate Lending

    • Tenure: 12.8yrs
  • Ruth Filiberto (61yo)

    Executive VP & Director of HR

    • Tenure: 12.3yrs
  • Allen Brewer (66yo)

    Executive VP & Chief Information Officer

    • Tenure: 11yrs
  • Astrid Burrowes (54yo)

    Executive VP

    • Tenure: 3.8yrs
  • Susan Cullen (53yo)

    Senior EVP

    • Tenure: 3.8yrs
    • Compensation: US$937.76k
  • Frank Akalski (64yo)

    Senior VP & Chief Investment Officer

    • Tenure: 5yrs
  • Patricia Tiffany (60yo)

    Senior VP & Director of Marketing

    • Tenure: 0.9yrs

Board Members

  • John Buran (70yo)

    President

    • Tenure: 14.4yrs
    • Compensation: US$2.22m
  • Louis Grassi (63yo)

    Independent Director

    • Tenure: 21.9yrs
    • Compensation: US$242.41k
  • James Bennett (80yo)

    Independent Director

    • Tenure: 21.9yrs
    • Compensation: US$221.41k
  • Michael Russo (85yo)

    Independent Director

    • Tenure: 25.6yrs
    • Compensation: US$226.91k
  • John McCabe (76yo)

    Independent Director

    • Tenure: 16.9yrs
    • Compensation: US$225.41k
  • Al DelliBovi (73yo)

    Chairman of the Board

    • Tenure: 2.8yrs
    • Compensation: US$312.66k
  • Donna O'Brien (64yo)

    Independent Director

    • Tenure: 15yrs
    • Compensation: US$225.66k
  • Steven D'Iorio (70yo)

    Independent Director

    • Tenure: 15yrs
    • Compensation: US$228.66k
  • Sang Ki Han (66yo)

    Independent Director

    • Tenure: 12.3yrs
    • Compensation: US$212.66k
  • Caren Yoh (59yo)

    Independent Director

    • Tenure: 4.6yrs
    • Compensation: US$214.91k

Company Information

Flushing Financial Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Flushing Financial Corporation
  • Ticker: FFIC
  • Exchange: NasdaqGS
  • Founded: 1929
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$584.390m
  • Shares outstanding: 27.83m
  • Website: https://www.flushingbank.com

Number of Employees


Location

  • Flushing Financial Corporation
  • 220 RXR Plaza
  • Uniondale
  • New York
  • 11556
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FFICNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 1995
FL8DB (Deutsche Boerse AG)YesCommon StockDEEURNov 1995

Biography

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 vario ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/11 23:35
End of Day Share Price2019/12/11 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.