Flagstar Financial (NYSE:FLG) Earns Overweight Rating from Analysts at Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald assumed coverage on shares of Flagstar Financial (NYSE:FLG – Free Report) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $15.00 price target on the stock.

Several other brokerages also recently commented on FLG. JPMorgan Chase & Co. reduced their target price on Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, July 1st. Jefferies Financial Group started coverage on Flagstar Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $15.00 target price on the stock. Wall Street Zen downgraded Flagstar Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Stephens reissued an “equal weight” rating and issued a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, Citigroup boosted their target price on Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Flagstar Financial currently has an average rating of “Moderate Buy” and an average price target of $13.65.

Read Our Latest Report on FLG

Flagstar Financial Stock Down 0.6%

Shares of FLG opened at $12.68 on Wednesday. The company has a market capitalization of $5.27 billion, a P/E ratio of -7.68 and a beta of 1.20. 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 one year low of $8.56 and a one year high of $13.35. The business’s 50 day simple moving average is $11.97 and its 200-day simple moving average is $11.66.

Flagstar Financial (NYSE:FLG – Get Free Report) last announced its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.Flagstar Financial’s quarterly revenue was down 26.1% on a year-over-year basis. As a group, sell-side analysts predict that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Flagstar Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Financial’s payout ratio is presently -2.42%.

Institutional Trading of Flagstar Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Liberty 77 Capital L.P. bought a new stake in shares of Flagstar Financial during the 1st quarter valued at $871,500,000. Reverence Capital Partners L.P. bought a new stake in shares of Flagstar Financial in the 1st quarter valued at $418,101,000. Vanguard Group Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter valued at $378,161,000. Geode Capital Management LLC increased its position in shares of Flagstar Financial by 9.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,462,877 shares of the company’s stock valued at $79,116,000 after buying an additional 641,117 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Flagstar Financial by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after buying an additional 6,096,512 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

About Flagstar Financial

(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.

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