Flagstar Financial (NYSE:FLG) Trading 8% Higher After Earnings Beat

Flagstar Financial, Inc. (NYSE:FLG) shares were up 8% on Friday following a stronger than expected earnings report. The stock traded as high as $11.94 and last traded at $11.94. Approximately 3,173,154 shares changed hands during mid-day 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) EPS for the quarter, topping 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 Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 9th were issued 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 (DPR) is currently -0.92%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Compass Point increased their price target on Flagstar Financial from $11.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. DA Davidson upgraded shares of Flagstar Financial from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $12.00 to $14.50 in a report on Friday. Barclays boosted their target price on shares of Flagstar Financial from $13.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Flagstar Financial from $11.00 to $12.50 and gave the company a “neutral” rating in a research report on Friday. Finally, UBS Group assumed coverage on Flagstar Financial in a research report on Tuesday, December 17th. They set a “neutral” rating and a $11.50 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Flagstar Financial currently has an average rating of “Hold” and a consensus target price of $12.90.

Flagstar Financial Stock Up 7.1 %

The business has a 50-day moving average price of $10.11. 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 stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of -2.72 and a beta of 1.09.

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.