Brokerages Set Flagstar Financial, Inc. (NYSE:FLG) Target Price at $13.22

Flagstar Financial, Inc. (NYSE:FLG - Get Free Report) has been assigned an average recommendation of "Hold" from the nine analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $13.22.

FLG has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday. Jefferies Financial Group initiated coverage on Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target for the company. Citigroup increased their price target on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, DA Davidson reiterated a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th.

Flagstar Financial Trading Down 1.7%

NYSE:FLG traded down $0.19 during trading hours on Friday, hitting $11.28. 3,864,530 shares of the company were exchanged, compared to its average volume of 7,165,155. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -4.34 and a beta of 1.10. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.85. Flagstar Financial has a one year low of $8.56 and a one year high of $13.35. The company has a fifty day simple moving average of $11.60 and a 200 day simple moving average of $11.23.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported ($0.23) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.03. Flagstar Financial had a negative return on equity of 9.68% and a negative net margin of 14.21%. The firm had revenue of $490.00 million during the quarter, compared to the consensus estimate of $511.00 million. The firm's revenue was down 22.6% on a year-over-year basis. Sell-side analysts expect that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Saturday, June 7th were paid a $0.01 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. Flagstar Financial's dividend payout ratio is presently -1.54%.

Institutional Trading of Flagstar Financial

Several large investors have recently made changes to their positions in FLG. UMB Bank n.a. acquired a new position in Flagstar Financial during the 2nd quarter valued at about $33,000. SeaCrest Wealth Management LLC acquired a new position in Flagstar Financial during the 2nd quarter valued at about $168,000. Mirador Capital Partners LP acquired a new position in Flagstar Financial during the 2nd quarter valued at about $749,000. Balefire LLC acquired a new position in Flagstar Financial during the 2nd quarter valued at about $613,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Flagstar Financial during the 2nd quarter valued at about $43,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

About Flagstar Financial

Flagstar Financial, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.