Flagstar Financial (NYSE:FLG) Coverage Initiated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has upgraded Flagstar Financial (NYSE:FLG) to a "strong-buy" rating, indicating renewed confidence in the stock's potential.
• The stock has a consensus rating of "Moderate Buy," with an average price target set at $13.50, despite mixed analyst opinions.
• Flagstar Financial reported a loss of ($0.14) earnings per share in its latest quarterly earnings, falling short of analyst estimates and reflecting a significant year-over-year revenue decline.

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Flagstar Financial (NYSE:FLG - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an "overweight" rating on the stock.

Several other research firms have also weighed in on FLG. Wall Street Zen lowered Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Stephens reiterated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a research note on Thursday, June 12th. Citigroup lifted their target price on Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, DA Davidson reiterated a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

Flagstar Financial Price Performance

NYSE:FLG opened at $12.61 on Tuesday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -7.64 and a beta of 1.20. Flagstar Financial has a twelve month low of $8.56 and a twelve month high of $13.35. The stock's 50 day moving average price is $11.91 and its two-hundred day moving average price is $11.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

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

Institutional Trading of Flagstar Financial

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC bought a new stake in Flagstar Financial in the 2nd quarter valued at $28,000. Financial Freedom LLC bought a new stake in Flagstar Financial in the 2nd quarter valued at $31,000. UMB Bank n.a. bought a new stake in Flagstar Financial in the 2nd quarter valued at $33,000. Marquette Asset Management LLC bought a new stake in Flagstar Financial in the 2nd quarter valued at $35,000. Finally, American National Bank & Trust bought a new stake in Flagstar Financial in the 2nd quarter valued at $41,000. 67.88% of the stock is currently owned by institutional investors.

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.