Cantor Fitzgerald Initiates Coverage on Flagstar Financial (NYSE:FLG)

Key Points

• Analysts at Cantor Fitzgerald initiated coverage of Flagstar Financial with an "overweight" rating and a price target of $15.00, suggesting a potential upside of 17.19% from its current price.
• Flagstar Financial reported a Q2 loss of ($0.14) EPS, missing estimates, with quarterly revenue down 26.1% year-over-year.
• The stock has seen mixed ratings from analysts, with five rating it as "Buy" and five as "Hold," leading to an average rating of "Moderate Buy" with a target of $13.50.

Investment analysts at Cantor Fitzgerald started coverage on shares of Flagstar Financial (NYSE:FLG - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set an "overweight" rating and a $15.00 price target on the stock. Cantor Fitzgerald's price target points to a potential upside of 18.30% from the stock's previous close.

A number of other research firms have also recently commented on FLG. Jefferies Financial Group started 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. Truist Financial reduced 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, July 11th. Stephens reiterated an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Wall Street Zen cut Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Citigroup lifted their price target on Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $13.65.

Flagstar Financial Stock Down 0.6%

Shares of NYSE:FLG traded down $0.08 during midday trading on Wednesday, reaching $12.68. The company had a trading volume of 3,319,539 shares, compared to its average volume of 4,714,783. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The business's 50 day moving average price is $11.97 and its 200 day moving average price is $11.66. The stock has a market cap of $5.27 billion, a PE ratio of -7.68 and a beta of 1.20. Flagstar Financial has a 1-year low of $8.56 and a 1-year high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. The firm's quarterly revenue was down 26.1% compared to the same quarter last year. Research analysts forecast that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Flagstar Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC acquired a new stake in shares of Flagstar Financial in the second quarter valued at approximately $28,000. Financial Freedom LLC acquired a new stake in shares of Flagstar Financial in the second quarter valued at approximately $31,000. UMB Bank n.a. acquired a new stake in shares of Flagstar Financial in the second quarter valued at approximately $33,000. Marquette Asset Management LLC acquired a new stake in shares of Flagstar Financial in the second quarter valued at approximately $35,000. Finally, American National Bank & Trust acquired a new stake in shares of Flagstar Financial in the second quarter valued at approximately $41,000. 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.