Flagstar Financial, Inc. (NYSE:FLG) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Flagstar Financial, Inc. has received a consensus rating of "Hold" from analysts, with an average 12-month target price of $13.22.
• The company reported a quarterly loss of ($0.14) earnings per share, missing expectations, and experienced a 26.1% decline in revenue year-over-year.
• Flagstar Financial will pay a quarterly dividend of $0.01 on September 17th, representing a 0.4% dividend yield.

Flagstar Financial, Inc. (NYSE:FLG - Get Free Report) has earned an average rating of "Hold" from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.2222.

A number of research firms have recently weighed in on FLG. Truist Financial lowered their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Stephens reiterated an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a report on Thursday, June 12th. DA Davidson reissued a "buy" rating and issued a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group started coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target on the stock.

Flagstar Financial Stock Performance

Shares of Flagstar Financial stock opened at $11.28 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock's fifty day moving average price is $11.39 and its 200-day moving average price is $11.50. The firm has a market cap of $4.68 billion, a P/E ratio of -6.84 and a beta of 1.11. Flagstar Financial has a 12 month low of $8.56 and a 12 month high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. The business had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. The firm's revenue was down 26.1% on a year-over-year basis. On average, equities research analysts expect that Flagstar Financial will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 5th. Flagstar Financial's payout ratio is presently -2.42%.

Institutional Investors Weigh In On Flagstar Financial

Hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. purchased a new position in Flagstar Financial in the first quarter worth $991,000. Princeton Capital Management LLC increased its position in shares of Flagstar Financial by 18.2% in the second quarter. Princeton Capital Management LLC now owns 13,000 shares of the company's stock valued at $138,000 after buying an additional 2,000 shares in the last quarter. Moors & Cabot Inc. grew its stake in Flagstar Financial by 32.7% in the 2nd quarter. Moors & Cabot Inc. now owns 18,553 shares of the company's stock valued at $197,000 after acquiring an additional 4,575 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Flagstar Financial in the second quarter valued at approximately $23,059,000. Finally, State of Michigan Retirement System acquired a new stake in Flagstar Financial during the 2nd quarter valued at $773,000. 67.88% of the stock is 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.

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