Flagstar Financial, Inc. (NYSE:FLG - Get Free Report) shares rose 8% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $11.94 and last traded at $11.94. Approximately 3,173,154 shares changed hands during trading, a decline of 40% from the average daily volume of 5,294,664 shares. The stock had previously closed at $11.06.
The company reported ($0.34) earnings per share 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 firm also recently declared a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were given a dividend of $0.01 per share. This represents a yield of 0.33%. The ex-dividend date was Friday, December 6th. Flagstar Financial's payout ratio is -0.92%.
Analyst Ratings Changes
Several research firms have recently issued reports on FLG. Barclays boosted their target price on Flagstar Financial from $13.00 to $14.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Financial from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. UBS Group started coverage on shares of Flagstar Financial in a research note on Tuesday, December 17th. They set a "neutral" rating and a $11.50 target price on the stock. DA Davidson upgraded shares of Flagstar Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $12.00 to $14.50 in a report on Friday. Finally, Compass Point increased their target price on Flagstar Financial from $11.50 to $12.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.60.
Get Our Latest Research Report on FLG
Flagstar Financial Stock Performance
The business's 50-day moving average is $10.10. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.14 and a quick ratio of 1.12. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -2.74 and a beta of 1.09.
Flagstar Financial Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Flagstar Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Flagstar Financial wasn't on the list.
While Flagstar Financial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
