FFIC

Venus Concept Inc. Surge: Shares of Venus Concept Inc. rose 201% to $8.67 in pre-market trading after securing $23.24 million in bridge financing from Madryn Health Partners.

Market Movements: Several stocks experienced significant changes, with Femto Technologies Inc. rising 95.7% and Vincerx Pharma Inc. falling 54.1% following various announcements and financial disclosures.

Financial Performance: Flushing Financial reported a Q4 Non-GAAP EPS of $0.14, missing expectations by $0.08, with revenue declining to -$19.78M from $53.49M year-over-year, missing estimates by $26.18M.

Credit Losses and Equity: The provision for credit losses increased significantly to $6.4 million in 4Q24 compared to previous quarters, while tangible common equity rose to 7.82% as of December 31, 2024, despite a decrease in tangible book value per share from $22.54 a year ago to $20.97.

Insider Trading Activity: Theresa Kelly, EVP of $FFIC, purchased 1,311 shares on December 12, 2024, increasing her holdings by approximately 3.0%, bringing her total to 44,986 shares; in the past six months, there have been four insider trades, including one purchase and three sales.

Institutional Investor Movements: In the latest quarter, 60 institutional investors increased their positions in $FFIC stock while 81 reduced theirs, indicating mixed sentiment among institutional stakeholders.

Index Rebalancing Announcement: Keefe, Bruyette & Woods, Inc. has announced the fourth quarter 2024 index rebalancing for several KBW Nasdaq indexes, effective December 23, 2024, involving multiple additions and removals of constituents across four indices.

Details of Changes: The changes include significant additions to the KBW Nasdaq Capital Markets Index, Financial Technology Index, Financial Sector Dividend Yield Index, and Premium Yield Equity REIT Index, with various companies being added or dropped from each index.

Flushing Financial's Capital Raising Efforts: Flushing Financial is looking to raise $70 million by selling low-yielding bonds and loans backed by commercial real estate, which may result in a loss and require issuing new stock at a price lower than its current market value.

Impact of Interest Rates on Community Banks: The bank, along with other community banks under $10 billion in assets, has faced challenges due to rising interest rates, prompting regulators to encourage improvements in capital levels as the market shows signs of recovery.

U.S. Stock Market Trends: U.S. stock futures are down, with the Dow futures dropping over 250 points; several companies, including AECOM and Hanmi Financial Corporation, experienced significant declines in pre-market trading despite some reporting better-than-expected earnings.

Notable Stock Movements: AECOM shares fell 3.3% despite beating earnings estimates, while other companies like Guardian Pharmacy Services and Incyte Corporation saw drops of over 20% and 10%, respectively, indicating a broader trend of declining stock prices in the market.

Symbotic Inc. Financial Results: Symbotic Inc.'s shares surged 28.6% in pre-market trading after reporting better-than-expected fourth-quarter earnings of five cents per share and revenue of $576.76 million, surpassing analyst estimates.

Pre-Market Stock Movements: Several stocks experienced significant pre-market trading movements, with PainReform Ltd. gaining 165.4% and Hanmi Financial Corporation dropping 20.9%, reflecting a mix of gains and losses across various companies.

Top Stock Picks: Three stocks with strong income characteristics and a buy rank are highlighted: Flushing Financial Corporation (5.0% dividend yield), United Overseas Bank Limited (5.0% dividend yield), and CI Financial Corp. (3.5% dividend yield).

Earnings Estimates: Each company has seen positive adjustments in their earnings estimates over the past 60 days, with Flushing Financial's estimate increasing by 8.5%, United Overseas Bank's by 4.3%, and CI Financial's by 1.1%.

Top Stocks for Investors: Three stocks with strong income characteristics and buy rankings are highlighted: Flushing Financial Corporation (4.9% dividend yield), Sappi Limited (4.0% dividend yield), and Engie SA (3.8% dividend yield), all showing positive earnings estimates growth over the last 60 days.

Infrastructure Investment Opportunities: Trillions in federal funds are set to enhance U.S. infrastructure, including AI data centers and renewable energy, presenting investment opportunities in related stocks.

Corporate Leaders Congratulate Trump: Following Donald Trump's victory in the presidential campaign, prominent corporate executives, including Jeff Bezos, have expressed their congratulations and called for national unity.

Bezos' Statement: Jeff Bezos praised Trump for his political comeback and wished him success in leading the country, emphasizing the opportunities ahead for America.

Post-Election Reactions: Following a contentious presidential campaign, corporate executives and financial leaders are urging unity and congratulating Donald Trump on his victory.

Bipartisan Support: This call for unity includes acknowledgments from those who backed Democratic candidate Kamala Harris.

Earnings Call Overview: TriNet Group, Inc. held its Q3 2024 earnings conference call on October 25, 2024, featuring President and CEO John Buran and CFO Susan Cullen, discussing the company's performance and future strategy.

Forward-Looking Statements: The call included forward-looking statements under the Safe Harbor provisions, highlighting potential risks and uncertainties that may affect actual results, along with references to non-GAAP financial measures for assessing operating performance.

Earnings Performance: Flushing Financial (FFIC) reported quarterly earnings of $0.26 per share, surpassing the Zacks Consensus Estimate of $0.18, although down from $0.31 a year ago. The company also achieved revenues of $51.88 million, exceeding expectations by 9.34%.

Market Outlook: Despite underperforming the market with an 8.8% decline this year, Flushing Financial holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market. Future stock movements will depend on earnings estimate revisions and management's commentary during the earnings call.

September Stock Performance: Piper Sandler's analysis confirms that September is historically the worst month for the S&P 500 Index, showing gains only 46% of the time, while bank stocks perform differently, with June being the worst month for the S&P 500 Bank Index at 32% gains.

Bank Ratings and Performance: The SA Quant ratings system identifies several banks as underperforming, including Bank of Hawaii and Huntington Bancshares, while highlighting top picks like Bank of America and Wells Fargo; overall, bank indices have outperformed the broader market over the past year.

Flushing Financial Earnings Report: Flushing Financial reported quarterly earnings of $0.18 per share, matching estimates but down from $0.26 a year ago, with revenues of $46.99 million slightly exceeding expectations but lower than the previous year's $48.5 million.

Future Outlook and Market Performance: The stock has underperformed compared to the S&P 500 this year, currently holding a Zacks Rank #3 (Hold), indicating expected performance in line with the market, while future earnings estimates remain mixed amidst industry challenges.

Flushing Financial Q2 2024 Results: Flushing Financial reported earnings per share of 18 cents, meeting analyst expectations, but its revenue of $46.99 million fell short of the estimated $47.15 million by 0.34%.

InvestorPlace Earnings Automation: InvestorPlace Earnings utilizes automated data from TradeSmith to quickly deliver key financial figures and comparisons to analyst estimates without human intervention.

Flushing Financial Performance: Flushing Financial (FFIC) reported a revenue of $46.99 million for Q2 2024, down 3.1% year-over-year, with an EPS of $0.18 compared to $0.26 the previous year. The revenue slightly exceeded analyst expectations by 0.08%, but there was no surprise in EPS.

Market Insights: Investors are closely monitoring key financial metrics and their year-over-year changes to gauge the company's health and potential stock performance, as these indicators play a crucial role in influencing investment decisions.

Earnings Report Date: Flushing Financial is set to release its Q2 earnings on July 29, with analysts predicting earnings per share of $0.184, a decline from $0.290 in the same quarter last year.

Financial Expectations: Analysts anticipate a significant decrease in revenue, forecasting $47.2 million for the quarter, down 53.42% year-over-year, and an average annual profit of $0.742 per share for the current fiscal year compared to $0.960 the previous year.