Truist Financial Issues Positive Forecast for Flagstar Financial (NYSE:FLG) Stock Price

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 equities researchers at Truist Financial from $12.00 to $13.50 in a report released on Friday, MarketBeat Ratings reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective would indicate a potential upside of 10.93% from the stock's previous close.

Several other research analysts have also weighed in on FLG. Wall Street Zen lowered Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Stephens reiterated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. DA Davidson reiterated a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a report on Thursday, June 26th. Cantor Fitzgerald initiated coverage on Flagstar Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $15.00 target price on the stock. Finally, Citigroup lifted their target price on Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $13.65.

Flagstar Financial Price Performance

FLG stock traded up $0.07 during midday trading on Friday, reaching $12.17. 1,686,922 shares of the company's stock traded hands, compared to its average volume of 6,239,228. The company has a 50-day simple moving average of $12.02 and a two-hundred day simple moving average of $11.66. Flagstar Financial has a 1-year low of $8.56 and a 1-year high of $13.35. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -7.38 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial's quarterly revenue was down 26.1% on a year-over-year basis. On average, analysts anticipate that Flagstar Financial will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Flagstar Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC bought a new position in shares of Flagstar Financial in the 1st quarter valued at $422,000. Mendon Capital Advisors Corp bought a new position in shares of Flagstar Financial in the 1st quarter valued at $2,403,000. Mutual of America Capital Management LLC bought a new position in shares of Flagstar Financial in the 1st quarter valued at $1,814,000. Liberty 77 Capital L.P. acquired a new stake in Flagstar Financial in the first quarter valued at $871,500,000. Finally, Comerica Bank acquired a new stake in Flagstar Financial in the first quarter valued at $990,000. 67.88% of the stock is currently owned by institutional investors.

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.