Flagstar Financial (NYSE:FLG) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Flagstar Financial (NYSE:FLG) in a report released on Tuesday, MarketBeat.com reports. The firm issued an overweight rating and a $15.00 price objective on the stock.

A number of other brokerages have also weighed in on FLG. Wall Street Zen lowered shares of Flagstar Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Citigroup raised their price objective on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Stephens reiterated an “equal weight” rating and issued a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. DA Davidson restated a “buy” rating and set a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Finally, Truist Financial cut their price target on Flagstar Financial from $13.00 to $12.00 and set a “hold” rating for the company in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Flagstar Financial Stock Performance

NYSE:FLG opened at $12.76 on Tuesday. The company has a market capitalization of $5.30 billion, a P/E ratio of -7.73 and a beta of 1.20. The business has a fifty day simple moving average of $11.94 and a two-hundred day simple moving average of $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 has a 1 year low of $8.56 and a 1 year high of $13.35.

Flagstar Financial (NYSE:FLG) last posted its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. The company’s revenue for the quarter was down 26.1% on a year-over-year basis. On average, analysts expect that Flagstar Financial will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be given 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 -2.42%.

Institutional Investors Weigh In On Flagstar Financial

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