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

Flagstar Financial (NYSE:FLG - Get Free Report) had its price target cut by investment analysts at Truist Financial from $13.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target would indicate a potential upside of 6.38% from the stock's current price.

Several other brokerages also recently weighed in on FLG. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group began coverage on Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective on the stock. Stephens reaffirmed an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. DA Davidson reaffirmed a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. reduced their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Flagstar Financial presently has a consensus rating of "Hold" and an average target price of $13.22.

Flagstar Financial Stock Performance

NYSE FLG traded down $0.19 during trading on Friday, reaching $11.28. The company's stock had a trading volume of 3,864,530 shares, compared to its average volume of 7,165,155. Flagstar Financial has a 12 month low of $8.56 and a 12 month high of $13.35. The firm has a 50 day moving average price of $11.61 and a 200 day moving average price of $11.20. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -4.34 and a beta of 1.10.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.03. Flagstar Financial had a negative net margin of 14.21% and a negative return on equity of 9.68%. The business had revenue of $490.00 million for the quarter, compared to analyst estimates of $511.00 million. The business's quarterly revenue was down 22.6% compared to the same quarter last year. As a group, equities analysts anticipate that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Flagstar Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in shares of Flagstar Financial in the first quarter worth approximately $10,742,000. Pacer Advisors Inc. acquired a new position in shares of Flagstar Financial in the first quarter worth approximately $296,000. Shufro Rose & Co. LLC acquired a new position in shares of Flagstar Financial in the first quarter worth approximately $228,000. AE Wealth Management LLC acquired a new position in shares of Flagstar Financial in the first quarter worth approximately $216,000. Finally, Wellington Shields & Co. LLC acquired a new position in shares of Flagstar Financial in the first quarter worth approximately $131,000. 67.88% of the stock is 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.