Flagstar Financial (NYSE:FLG) Trading 5.8% Higher - Here's Why

Flagstar Financial, Inc. (NYSE:FLG - Get Free Report)'s share price shot up 5.8% on Monday . The stock traded as high as $11.09 and last traded at $11.05. 2,374,633 shares were traded during mid-day trading, a decline of 60% from the average session volume of 5,994,089 shares. The stock had previously closed at $10.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FLG shares. JPMorgan Chase & Co. increased their price target on Flagstar Financial from $11.00 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, January 31st. DA Davidson raised Flagstar Financial from a "neutral" rating to a "buy" rating and lifted their target price for the company from $12.00 to $14.50 in a research note on Friday, January 31st. Barclays upped their price target on Flagstar Financial from $13.00 to $14.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group initiated coverage on shares of Flagstar Financial in a research report on Tuesday, December 17th. They set a "neutral" rating and a $11.50 price objective on the stock. Finally, Citigroup raised shares of Flagstar Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $13.50 to $15.00 in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Flagstar Financial presently has a consensus rating of "Moderate Buy" and an average target price of $13.25.

Flagstar Financial Trading Down 2.3 %

The firm's 50-day moving average is $11.81. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 1.88. The stock has a market cap of $4.12 billion, a PE ratio of -2.69 and a beta of 1.17.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted its earnings results on Thursday, January 30th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.17. Flagstar Financial had a negative net margin of 17.16% and a negative return on equity of 10.72%. On average, sell-side analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, March 7th. Flagstar Financial's payout ratio is -1.08%.

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.