Flagstar Financial (NYSE:FLG) Posts Earnings Results

Key Points

• Flagstar Financial reported a quarterly earnings loss of ($0.14) per share, missing expectations of ($0.12), with a revenue of $496 million versus the forecasted $524.33 million.
• The company announced a quarterly dividend of $0.01 per share, indicating a low annual yield of 0.35% and a negative payout ratio of -1.54%.
• Shares of Flagstar Financial are currently trading with an average target price of $13.22 from analysts, with varying ratings including one sell, five holds, and four buys.

Flagstar Financial (NYSE:FLG - Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02), Zacks reports. The firm had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. The firm's revenue for the quarter was down 26.1% compared to the same quarter last year.

Flagstar Financial Trading Down 0.6%

Shares of FLG traded down $0.07 during trading hours on Thursday, hitting $11.35. 3,621,542 shares of the stock were exchanged, compared to its average volume of 6,452,529. Flagstar Financial has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $11.44 and a 200-day moving average of $11.43. The firm has a market capitalization of $4.71 billion, a P/E ratio of -6.88 and a beta of 1.10.

Flagstar Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, September 5th. Flagstar Financial's dividend payout ratio (DPR) is currently -2.42%.

Institutional Investors Weigh In On Flagstar Financial

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Flagstar Financial during the first quarter worth $45,000. Strs Ohio acquired a new stake in Flagstar Financial in the first quarter worth $102,000. United Services Automobile Association acquired a new stake in Flagstar Financial in the first quarter worth $219,000. Empowered Funds LLC acquired a new stake in Flagstar Financial in the first quarter worth $516,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Flagstar Financial in the first quarter worth $1,754,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLG has been the subject of a number of research reports. Truist Financial lowered their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday, July 11th. 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. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Citigroup raised their price target on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Company Profile

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.