Flagstar Financial (NYSE:FLG) Coverage Initiated by Analysts at Truist Financial

Equities research analysts at Truist Financial started coverage on shares of Flagstar Financial (NYSE:FLG - Get Free Report) in a research note issued to investors on Tuesday. The brokerage set a "hold" rating and a $13.00 price target on the stock. Truist Financial's price objective indicates a potential upside of 3.26% from the stock's previous close.

Several other research firms also recently commented on FLG. Citigroup upgraded Flagstar Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $13.50 to $15.00 in a report on Friday, April 4th. DA Davidson upgraded Flagstar Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $12.00 to $14.50 in a report on Friday, January 31st. Barclays boosted their price objective on shares of Flagstar Financial from $13.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Flagstar Financial from $11.00 to $12.50 and gave the company a "neutral" rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.21.

Flagstar Financial Price Performance

Shares of NYSE:FLG traded up $0.15 during trading hours on Tuesday, hitting $12.59. 1,388,727 shares of the company's stock traded hands, compared to its average volume of 6,199,307. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 1.88. The firm has a fifty day simple moving average of $11.38. Flagstar Financial has a 1 year low of $8.56 and a 1 year high of $13.35. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -3.41 and a beta of 1.14.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, April 25th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. Flagstar Financial had a negative return on equity of 10.72% and a negative net margin of 17.16%. The business had revenue of $490.00 million during the quarter, compared to the consensus estimate of $511.00 million. The firm's revenue for the quarter was down 22.6% on a year-over-year basis. As a group, equities analysts predict that Flagstar Financial will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Flagstar Financial

A number of large investors have recently made changes to their positions in FLG. Federated Hermes Inc. purchased a new stake in Flagstar Financial during the 1st quarter valued at about $11,449,000. Pacer Advisors Inc. purchased a new stake in Flagstar Financial in the first quarter valued at approximately $296,000. Shufro Rose & Co. LLC acquired a new position in Flagstar Financial in the 1st quarter worth approximately $228,000. AE Wealth Management LLC purchased a new position in Flagstar Financial during the 1st quarter worth approximately $216,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Flagstar Financial during the 1st quarter valued at approximately $131,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

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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