Flagstar Financial (NYSE:FLG) Cut to "Sell" at Wall Street Zen

Flagstar Financial (NYSE:FLG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Thursday.

FLG has been the topic of a number of other reports. Jefferies Financial Group began coverage on Flagstar Financial in a report on Wednesday. They set a "buy" rating and a $15.00 price target on the stock. Citigroup raised their price target on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Truist Financial started coverage on Flagstar Financial in a report on Tuesday, May 13th. They set a "hold" rating and a $13.00 price target on the stock. Barclays raised their target price on Flagstar Financial from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on Flagstar Financial from $11.00 to $12.50 and gave the company a "neutral" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Flagstar Financial currently has a consensus rating of "Hold" and a consensus price target of $13.50.

Flagstar Financial Price Performance

Shares of FLG traded up $0.08 during trading hours on Thursday, reaching $11.84. 5,507,174 shares of the company's stock traded hands, compared to its average volume of 6,264,344. The company has a market cap of $4.91 billion, a price-to-earnings ratio of -3.21 and a beta of 1.14. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.10 and a quick ratio of 1.09. Flagstar Financial has a twelve month low of $8.56 and a twelve month high of $13.35. The stock has a fifty day simple moving average of $11.51.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported ($0.23) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.03. The company had revenue of $490.00 million for the quarter, compared to analyst estimates of $511.00 million. Flagstar Financial had a negative return on equity of 10.72% and a negative net margin of 17.16%. The firm's revenue for the quarter was down 22.6% compared to the same quarter last year. On average, equities research analysts expect that Flagstar Financial will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Flagstar Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $45,000. Brooklyn Investment Group acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $51,000. Arete Wealth Advisors LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $94,000. Bayforest Capital Ltd acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $97,000. Finally, HB Wealth Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $119,000. Institutional investors and hedge funds own 67.88% of the company's stock.

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.