Truist Financial Forecasts Strong Price Appreciation for Flagstar Financial (NYSE:FLG) Stock

Key Points

• Truist Financial has raised its price target for Flagstar Financial (NYSE:FLG) from $12.00 to $13.50, indicating a potential upside of 5.80% from its current price.
• Flagstar Financial recently reported a quarterly earnings miss with a negative EPS of ($0.14), while revenues fell 26.1% compared to the same quarter last year.
• The average rating for Flagstar Financial among analysts is currently "Moderate Buy," with a consensus price target of $13.65.

Flagstar Financial (NYSE:FLG - Get Free Report) had its price target upped by analysts at Truist Financial from $12.00 to $13.50 in a research note issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective suggests a potential upside of 5.80% from the stock's current price.

Several other research firms have also commented on FLG. JPMorgan Chase & Co. dropped their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Cantor Fitzgerald initiated coverage on shares of Flagstar Financial in a research report on Wednesday. They set an "overweight" rating and a $15.00 price target on the stock. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group initiated coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target on the stock. Finally, Citigroup raised their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $13.65.

Flagstar Financial Stock Up 1.1%

NYSE:FLG opened at $12.76 on Friday. The firm has a market capitalization of $5.30 billion, a P/E ratio of -7.73 and a beta of 1.20. Flagstar Financial has a 1-year low of $8.56 and a 1-year high of $13.35. The company's fifty day moving average price is $11.94 and its 200-day moving average price is $11.65. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The business had revenue of $496.00 million during 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 company's quarterly revenue was down 26.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Flagstar Financial will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Flagstar Financial

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC acquired a new position in shares of Flagstar Financial in the second quarter valued at approximately $28,000. Financial Freedom LLC acquired a new position in shares of Flagstar Financial in the 2nd quarter valued at $31,000. UMB Bank n.a. acquired a new position in shares of Flagstar Financial in the 2nd quarter valued at $33,000. Marquette Asset Management LLC acquired a new position in shares of Flagstar Financial in the 2nd quarter valued at $35,000. Finally, American National Bank & Trust purchased 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 and hedge funds.

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.

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