Flagstar Financial (NYSE:FLG) Coverage Initiated at TD Cowen

Key Points

• TD Cowen has initiated coverage on Flagstar Financial with a "hold" rating and a price target of $14.00, indicating a potential upside of 19.15% from the current price.
• Recent earnings revealed a loss of $0.14 EPS, missing estimates, while revenue fell 26.1% year-over-year, totaling $496 million.
• Institutional investors own approximately 67.88% of Flagstar Financial, reflecting strong interest from larger market players.

Investment analysts at TD Cowen assumed coverage on shares of Flagstar Financial (NYSE:FLG - Get Free Report) in a research note issued on Thursday. The brokerage set a "hold" rating and a $14.00 price target on the stock. TD Cowen's price target points to a potential upside of 19.15% from the company's current price.

FLG has been the subject of several other research reports. DA Davidson restated a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. Citigroup raised their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Cantor Fitzgerald started coverage on shares of Flagstar Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $15.00 price target for the company. Truist Financial raised their price target on shares of Flagstar Financial from $12.00 to $13.50 and gave the stock a "hold" rating in a report on Friday, September 12th. Finally, Stephens restated an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Flagstar Financial presently has an average rating of "Hold" and an average target price of $13.68.

Flagstar Financial Stock Up 0.7%

Shares of NYSE FLG opened at $11.75 on Thursday. The company has a 50 day simple moving average of $12.10 and a 200 day simple moving average of $11.67. The firm has a market cap of $4.88 billion, a PE ratio of -7.12 and a beta of 1.20. Flagstar Financial has a 1 year low of $8.56 and a 1 year 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.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) 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 firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. The business's revenue for the quarter was down 26.1% on a year-over-year basis. On average, research analysts forecast that Flagstar Financial will post -0.31 EPS for the current year.

Institutional Trading of Flagstar Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC bought a new stake in Flagstar Financial during the 2nd quarter valued at $28,000. Financial Freedom LLC bought a new stake in Flagstar Financial during the 2nd quarter valued at $31,000. UMB Bank n.a. bought a new stake in Flagstar Financial during the 2nd quarter valued at $33,000. Marquette Asset Management LLC bought a new stake in Flagstar Financial during the 2nd quarter valued at $35,000. Finally, American National Bank & Trust bought a new stake in Flagstar Financial during the 2nd quarter valued at $41,000. Institutional investors own 67.88% of the company's stock.

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.

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