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

Shares of Flagstar Financial, Inc. (NYSE:FLG) gapped up prior to trading on Thursday following a better than expected earnings announcement. 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 changing hands.

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

Flagstar Financial Announces Dividend

The business 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 of this dividend was Friday, December 6th. Flagstar Financial’s payout ratio is -0.92%.

Analyst Upgrades and Downgrades

FLG has been the topic of several recent research reports. Compass Point upped their price objective on Flagstar Financial from $11.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price target on shares of Flagstar Financial from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group started coverage on shares of Flagstar Financial in a report on Tuesday, December 17th. They set a “neutral” rating and a $11.50 price target for the company.

Flagstar Financial Stock 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 cap of $4.58 billion, a price-to-earnings ratio of -2.53 and a beta of 1.09. The company has a fifty day simple moving average of $10.10.

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.