Citigroup Boosts Flagstar Financial (NYSE:FLG) Price Target to $16.50

Flagstar Financial (NYSE:FLG) had its price objective hoisted by Citigroup from $15.50 to $16.50 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 28.11% from the stock’s previous close.

Several other brokerages also recently issued reports on FLG. Wall Street Zen downgraded shares of Flagstar Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Truist Financial cut their price target on Flagstar Financial from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, July 11th. Stephens restated an “equal weight” rating and set a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Jefferies Financial Group assumed coverage on Flagstar Financial in a research note on Wednesday, May 21st. They issued a “buy” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.33.

Flagstar Financial Trading Down 0.9%

FLG opened at $12.88 on Tuesday. The company’s 50 day moving average is $11.56 and its 200-day moving average is $11.65. Flagstar Financial has a 1-year low of $8.56 and a 1-year high of $13.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market cap of $5.35 billion, a P/E ratio of -7.81 and a beta of 1.11.

Flagstar Financial (NYSE:FLG) last released its quarterly earnings data on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The company had revenue of $496.00 million for 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 revenue for the quarter was down 26.1% on a year-over-year basis. Equities research analysts predict that Flagstar Financial will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flagstar Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC bought a new stake in Flagstar Financial during the 2nd quarter valued at $28,000. Financial Freedom LLC purchased a new stake in shares of Flagstar Financial in the second quarter worth approximately $31,000. UMB Bank n.a. purchased a new stake in shares of Flagstar Financial in the second quarter worth approximately $33,000. Marquette Asset Management LLC bought a new position in shares of Flagstar Financial in the second quarter valued at approximately $35,000. Finally, American National Bank & Trust purchased a new position in shares of Flagstar Financial during the second quarter valued at approximately $41,000. Institutional investors own 67.88% of the company’s stock.

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.