How are energy investors positioned?
Flushing Financial Corporation (NASDAQ:FFIC), the parent company of Flushing Bank, has experienced a notable downturn, with its stock price reaching a 52-week low of $10.73 USD. According to InvestingPro data, the stock's RSI indicates oversold conditions, while maintaining an impressive 7.79% dividend yield and a 30-year track record of consistent dividend payments. This recent price level reflects a challenging period for the company, though analyst targets suggest potential upside, with price targets ranging from $13 to $19. Investors are closely monitoring the bank's performance, as the current valuation marks a significant departure from higher price points observed earlier in the year. The 52-week low serves as a critical indicator for shareholders and potential investors, who are assessing the bank's financial health and future prospects in a dynamic economic landscape. For deeper insights into FFIC's valuation and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Flushing Financial Corporation reported its fourth-quarter 2024 earnings, which fell short of analysts' expectations. The company posted a GAAP loss per share of $1.61 and core earnings per share of $0.14, missing the anticipated $0.21. Revenue was also below forecasts, coming in at a negative $19.78 million compared to the expected $51.02 million. These results highlight the challenges Flushing Financial faced, including a substantial pre-tax loss of $76 million due to balance sheet restructuring. Despite these setbacks, the company managed to increase its net interest margin by 29 basis points on a GAAP basis and 18 basis points on a core basis. In December 2024, Flushing Financial completed a $70 million equity raise to strengthen its capital position. Looking ahead, the company expects slight loan growth and aims to expand its core net interest margin by 10-15 basis points in 2025. Flushing Financial is also focusing on expanding its presence in the Asian market and exploring opportunities in SBA (LON:SBA) loans.
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