Flagstar Financial (NYSE:FLG) Shares Gap Up on Strong Earnings

Flagstar Financial, Inc. (NYSE:FLG - Get Free Report) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.60, but opened at $10.57. Flagstar Financial shares last traded at $10.84, with a volume of 2,197,829 shares.

The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.17. Flagstar Financial had a negative return on equity of 11.35% and a negative net margin of 18.40%.

Flagstar Financial Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 0.33%. Flagstar Financial's dividend payout ratio is presently -0.92%.

Analysts Set New Price Targets

FLG has been the subject of several analyst reports. Barclays boosted their target price on shares of Flagstar Financial from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Friday. Compass Point upped their price objective on shares of Flagstar Financial from $11.50 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. UBS Group assumed coverage on Flagstar Financial in a research report on Tuesday, December 17th. They set a "neutral" rating and a $11.50 target price on the stock. JPMorgan Chase & Co. upped their price target on Flagstar Financial from $11.00 to $12.50 and gave the stock a "neutral" rating in a report on Friday. Finally, DA Davidson raised Flagstar Financial from a "neutral" rating to a "buy" rating and raised their price objective for the company from $12.00 to $14.50 in a report on Friday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Flagstar Financial currently has a consensus rating of "Hold" and a consensus price target of $12.90.

Flagstar Financial Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $4.91 billion, a PE ratio of -2.72 and a beta of 1.09. The company has a 50 day moving average of $10.11.

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.