Flagstar Financial (NYSE:FLG) Coverage Initiated at TD Cowen

TD Cowen began coverage on shares of Flagstar Financial (NYSE:FLG) in a report published on Thursday morning, MarketBeat reports. The brokerage issued a hold rating and a $14.00 price objective on the stock.

Several other research firms have also recently weighed in on FLG. Citigroup boosted their price target on Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Truist Financial boosted their price target on Flagstar Financial from $12.00 to $13.50 and gave the company a “hold” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. dropped their price target on Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 1st. Stephens reissued an “equal weight” rating and issued a $12.50 price target on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, DA Davidson reissued a “buy” rating and issued a $14.50 price target on shares of Flagstar Financial in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.68.

Flagstar Financial Stock Up 0.2%

FLG stock opened at $11.57 on Thursday. 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 fifty-two week low of $8.56 and a fifty-two week high of $13.35. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -7.01 and a beta of 1.20. The business’s fifty day moving average price is $12.10 and its two-hundred day moving average price is $11.68.

Flagstar Financial (NYSE:FLG) last issued its quarterly earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $524.33 million. The business’s quarterly revenue was down 26.1% compared to the same quarter last year. On average, equities analysts anticipate that Flagstar Financial will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in Flagstar Financial during the 1st quarter worth about $712,000. AE Wealth Management LLC purchased a new stake in Flagstar Financial during the 1st quarter worth about $216,000. Princeton Capital Management LLC purchased a new stake in shares of Flagstar Financial in the 1st quarter valued at about $128,000. Cetera Investment Advisers purchased a new stake in shares of Flagstar Financial in the 1st quarter valued at about $885,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Flagstar Financial in the 1st quarter valued at about $2,103,000. 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.