Flagstar Financial (NYSE:FLG) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Flagstar Financial (NYSE:FLG) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $15.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Truist Financial cut their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. Wall Street Zen cut shares of Flagstar Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, July 1st. Stephens reissued an “equal weight” rating and issued a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Flagstar Financial Price Performance

Shares of NYSE:FLG opened at $12.61 on Wednesday. Flagstar Financial has a 12 month low of $8.56 and a 12 month high of $13.35. The company’s 50-day moving average price is $11.91 and its two-hundred day moving average price is $11.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a market cap of $5.24 billion, a P/E ratio of -7.64 and a beta of 1.20.

Flagstar Financial (NYSE:FLG) last released its earnings results 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). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The business had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. The business’s revenue was down 26.1% on a year-over-year basis. As a group, research analysts forecast that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Flagstar Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial’s payout ratio is presently -2.42%.

Institutional Investors Weigh In On Flagstar Financial

Several large investors have recently added to or reduced their stakes in FLG. CWM LLC purchased a new position in Flagstar Financial during the 2nd quarter valued at about $28,000. Financial Freedom LLC purchased a new stake in Flagstar Financial in the second quarter worth approximately $31,000. UMB Bank n.a. purchased a new stake in shares of Flagstar Financial during the second quarter valued at approximately $33,000. Marquette Asset Management LLC purchased a new stake in shares of Flagstar Financial during the second quarter valued at approximately $35,000. Finally, American National Bank & Trust bought a new position in shares of Flagstar Financial during the second quarter valued at approximately $41,000. Hedge funds and other 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.