Flagstar Financial (NYSE:FLG) Announces Earnings Results, Beats Expectations By $0.17 EPS

Flagstar Financial (NYSE:FLG) issued its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.17, Zacks reports. Flagstar Financial had a negative net margin of 18.40% and a negative return on equity of 11.35%.

Flagstar Financial Stock Up 7.1 %

Shares of NYSE FLG opened at $11.84 on Friday. 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 company’s 50-day simple moving average is $10.11. Flagstar Financial has a 12-month low of $5.10 and a 12-month high of $21.54.

Flagstar Financial Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 9th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 0.33%. Flagstar Financial’s payout ratio is presently -0.92%.

Wall Street Analyst Weigh In

FLG has been the subject of several recent research reports. Compass Point boosted 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. UBS Group initiated coverage on shares of Flagstar Financial in a report on Tuesday, December 17th. They set a “neutral” rating and a $11.50 target price for the company. DA Davidson raised shares of Flagstar Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.00 to $14.50 in a report on Friday. Barclays lifted their price objective on shares of Flagstar Financial from $13.00 to $14.00 and gave the company an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Flagstar Financial from $11.00 to $12.50 and gave the stock a “neutral” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.90.

About Flagstar Financial

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.