Truist Financial Issues Pessimistic Forecast for Flagstar Financial (NYSE:FLG) Stock Price

Flagstar Financial (NYSE:FLG - Get Free Report) had its target price cut by equities researchers at Truist Financial from $13.00 to $12.00 in a note issued to investors on Friday, July 11th, Marketbeat Ratings reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price objective suggests a potential upside of 5.17% from the stock's previous close.

A number of other research analysts have also recently weighed in on the stock. DA Davidson restated a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a report on Thursday, June 26th. Wall Street Zen cut shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. cut their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Stephens reiterated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, Jefferies Financial Group started coverage on Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price for the company. One 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.22.

Flagstar Financial Trading Down 3.5%

FLG opened at $11.41 on Friday. Flagstar Financial has a 52 week low of $8.56 and a 52 week high of $13.35. 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 has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $11.43. The firm has a market cap of $4.74 billion, a P/E ratio of -6.92 and a beta of 1.10.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. acquired a new position in shares of Flagstar Financial in the 2nd quarter valued at $2,700,000. Securian Asset Management Inc. purchased a new stake in Flagstar Financial in the second quarter valued at $244,000. International Assets Investment Management LLC acquired a new position in Flagstar Financial in the second quarter valued at $143,000. Easterly Investment Partners LLC purchased a new position in shares of Flagstar Financial during the second quarter worth about $1,041,000. Finally, Praxis Investment Management Inc. purchased a new position in shares of Flagstar Financial during the second quarter worth about $232,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

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.