Flagstar Financial (NYSE:FLG) Price Target Raised to $15.50

Flagstar Financial (NYSE:FLG) had its price objective hoisted by Citigroup from $15.00 to $15.50 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. DA Davidson raised shares of Flagstar Financial from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $14.50 in a report on Friday, January 31st. Barclays increased their price objective on Flagstar Financial from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Flagstar Financial from $11.00 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Truist Financial initiated coverage on Flagstar Financial in a report on Tuesday, May 13th. They issued a “hold” rating and a $13.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Flagstar Financial has an average rating of “Hold” and a consensus price target of $13.29.

Flagstar Financial Stock Up 1.7%

NYSE FLG opened at $12.64 on Thursday. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -3.43 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 1.88. The company has a 50 day simple moving average of $11.48. Flagstar Financial has a 12-month low of $8.56 and a 12-month high of $13.35.

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

Flagstar Financial Announces Dividend

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

Institutional Investors Weigh In On Flagstar Financial

Several hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Flagstar Financial during the 1st quarter valued at about $51,000. Arete Wealth Advisors LLC purchased a new stake in Flagstar Financial in the first quarter worth approximately $94,000. Bayforest Capital Ltd bought a new position in Flagstar Financial during the first quarter valued at approximately $97,000. HB Wealth Management LLC purchased a new position in shares of Flagstar Financial during the first quarter worth approximately $119,000. Finally, Keynote Financial Services LLC bought a new stake in shares of Flagstar Financial in the 1st quarter worth approximately $122,000. 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.