Flagstar Financial, Inc. (NYSE:FLG - Get Free Report)'s stock price was up 5.5% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $11.99 and last traded at $11.89. Approximately 2,484,220 shares traded hands during trading, a decline of 59% from the average daily volume of 6,078,504 shares. The stock had previously closed at $11.27.
The company reported ($0.23) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.03. Flagstar Financial had a negative net margin of 17.16% and a negative return on equity of 10.72%. The business had revenue of $490.00 million for the quarter, compared to the consensus estimate of $511.00 million. The company's revenue for the quarter was down 22.6% compared to the same quarter last year.
Flagstar Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Saturday, June 7th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, June 6th. Flagstar Financial's dividend payout ratio is currently -1.54%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. DA Davidson raised Flagstar Financial from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $12.00 to $14.50 in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Flagstar Financial from $11.00 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup raised shares of Flagstar Financial from a "neutral" rating to a "buy" rating and upped their price target for the company from $13.50 to $15.00 in a report on Friday, April 4th. Finally, Barclays boosted their price objective on Flagstar Financial from $13.00 to $14.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Flagstar Financial has a consensus rating of "Moderate Buy" and an average target price of $13.25.
View Our Latest Analysis on FLG
Flagstar Financial Stock Performance
The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 1.88. The company has a market cap of $4.89 billion, a PE ratio of -3.19 and a beta of 1.17. The business's 50-day moving average price is $11.37.
About Flagstar Financial
(
Get Free Report)
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.
Further Reading
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