Flagstar Financial (NYSE:FLG) Shares Gap Down - Here's What Happened

Flagstar Financial, Inc. (NYSE:FLG - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $11.12, but opened at $10.70. Flagstar Financial shares last traded at $10.49, with a volume of 4,032,466 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FLG shares. Wall Street Zen cut Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. DA Davidson reaffirmed a "buy" rating and set a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday. Jefferies Financial Group started coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price for the company. Stephens reissued an "equal weight" rating and issued a $12.50 target price on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, Citigroup upped their price target on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Flagstar Financial presently has an average rating of "Hold" and an average target price of $13.39.

Flagstar Financial Trading Down 1.5%

The stock's 50 day moving average is $11.67 and its 200-day moving average is $11.13. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $4.50 billion, a P/E ratio of -4.17 and a beta of 1.13.

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

Flagstar Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Saturday, June 7th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.04 annualized dividend and a yield of 0.37%. Flagstar Financial's payout ratio is -1.54%.

Institutional Trading of Flagstar Financial

Several large investors have recently bought and sold shares of FLG. Liberty 77 Capital L.P. bought a new stake in Flagstar Financial during the 1st quarter valued at approximately $871,500,000. Reverence Capital Partners L.P. purchased a new position in shares of Flagstar Financial during the first quarter valued at approximately $418,101,000. Vanguard Group Inc. purchased a new position in shares of Flagstar Financial during the first quarter valued at approximately $378,161,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Flagstar Financial during the first quarter valued at approximately $76,911,000. Finally, Azora Capital LP purchased a new position in shares of Flagstar Financial during the first quarter valued at approximately $74,133,000. 67.88% of the stock is 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.