Flagstar Financial, Inc. (NYSE:FLG) Receives $13.50 Consensus Target Price from Brokerages

Flagstar Financial, Inc. (NYSE:FLG) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $13.50.

A number of equities research analysts have recently weighed in on FLG shares. Jefferies Financial Group started coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $15.00 price objective for the company. Truist Financial assumed coverage on shares of Flagstar Financial in a research note on Tuesday, May 13th. They issued a “hold” rating and a $13.00 target price on the stock. JPMorgan Chase & Co. lifted their target price 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 lifted their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Barclays lifted their target price on shares of Flagstar Financial from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st.

Flagstar Financial Stock Performance

Shares of FLG opened at $11.84 on Friday. 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 current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 1.88. Flagstar Financial has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The business has a 50 day simple moving average of $11.50.

Flagstar Financial (NYSE:FLG) last announced its quarterly earnings data on Friday, April 25th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $490.00 million during the quarter, compared to analyst estimates of $511.00 million. Flagstar Financial had a negative net margin of 17.16% and a negative return on equity of 10.72%. The firm’s revenue was down 22.6% on a year-over-year basis. As a group, equities research analysts predict that Flagstar Financial will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Saturday, June 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, June 6th. Flagstar Financial’s payout ratio is currently -1.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Liberty 77 Capital L.P. purchased a new position in Flagstar Financial during the 1st quarter valued at $871,500,000. Reverence Capital Partners L.P. purchased a new position in Flagstar Financial during the 1st quarter valued at $418,101,000. Vanguard Group Inc. purchased a new position in Flagstar Financial during the 1st quarter valued at $378,161,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Flagstar Financial in the 1st quarter worth about $76,911,000. Finally, Azora Capital LP purchased a new stake in shares of Flagstar Financial in the 1st quarter worth about $74,133,000. 67.88% of the stock is owned by hedge funds and other 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.