Flagstar Financial (NYSE:FLG) Price Target Raised to $16.50 at Citigroup

Key Points

• Citigroup has raised its price target for Flagstar Financial from $15.50 to $16.50, indicating a potential upside of 26.92% from the previous close and maintaining a "buy" rating.
• Flagstar Financial recently reported a quarterly earnings miss, posting an EPS of ($0.14) against an expectation of ($0.12), with revenue declining by 26.1% year-over-year.
• Currently, the company holds an average rating of "Hold" from analysts, with a consensus price target of $13.33, while 67.88% of shares are owned by institutional investors.

Flagstar Financial (NYSE:FLG - Get Free Report) had its price target increased by research analysts at Citigroup from $15.50 to $16.50 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 26.92% from the company's previous close.

FLG has been the subject of a number of other reports. Truist Financial lowered their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday, July 11th. Stephens restated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a report on Thursday, June 12th. JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. 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. Finally, Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.33.

Flagstar Financial Trading Up 3.5%

NYSE:FLG opened at $13.00 on Tuesday. The company has a fifty day moving average of $11.53 and a 200 day moving average of $11.64. 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 firm has a market capitalization of $5.40 billion, a P/E ratio of -7.88 and a beta of 1.11.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted its quarterly 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). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. The company's quarterly revenue was down 26.1% on a year-over-year basis. On average, research analysts predict that Flagstar Financial will post -0.31 earnings per share for the current year.

Institutional Trading of Flagstar Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its position in shares of Flagstar Financial by 1.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 61,131 shares of the company's stock worth $648,000 after buying an additional 1,010 shares during the period. Creative Planning grew its position in shares of Flagstar Financial by 2.8% in the 2nd quarter. Creative Planning now owns 57,414 shares of the company's stock worth $609,000 after buying an additional 1,557 shares during the period. Princeton Capital Management LLC grew its position in shares of Flagstar Financial by 18.2% in the 2nd quarter. Princeton Capital Management LLC now owns 13,000 shares of the company's stock worth $138,000 after buying an additional 2,000 shares during the period. CWM LLC purchased a new stake in shares of Flagstar Financial in the 2nd quarter worth about $28,000. Finally, Financial Freedom LLC purchased a new stake in shares of Flagstar Financial in the 2nd quarter worth about $31,000. 67.88% of the stock is owned by hedge funds and other 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.