Truist Financial Initiates Coverage on Flagstar Financial (NYSE:FLG)

Truist Financial assumed coverage on shares of Flagstar Financial (NYSE:FLG) in a report released on Tuesday morning, MarketBeat reports. The firm issued a hold rating and a $13.00 price objective on the stock.

A number of other research analysts have also issued reports on FLG. Citigroup upgraded Flagstar Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.50 to $15.00 in a research report on Friday, April 4th. DA Davidson upgraded Flagstar Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $12.00 to $14.50 in a research report on Friday, January 31st. Barclays increased their target price on Flagstar Financial from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on Flagstar Financial from $11.00 to $12.50 and gave the company a “neutral” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.29.

Flagstar Financial Trading Up 1.0%

Flagstar Financial stock opened at $12.44 on Tuesday. 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 12 month low of $8.56 and a 12 month high of $13.35. The stock has a 50 day moving average of $11.45. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of -3.37 and a beta of 1.14.

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

Flagstar Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Saturday, June 7th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, June 6th. Flagstar Financial’s dividend payout ratio (DPR) is presently -1.54%.

Institutional Trading of Flagstar Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Graham Capital Management L.P. acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $9,092,000. Azora Capital LP acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $74,133,000. Bayview Asset Management LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $1,937,000. Samalin Investment Counsel LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $222,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $8,596,000. 67.88% of the stock is owned by institutional investors and hedge funds.

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.