Stephens Reiterates “Equal Weight” Rating for Flagstar Financial (NYSE:FLG)

Flagstar Financial (NYSE:FLG)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a research note issued to investors on Thursday,Benzinga reports. They presently have a $12.50 price target on the stock. Stephens’ price objective points to a potential upside of 13.33% from the stock’s previous close.

Several other research analysts have also recently weighed in on FLG. Jefferies Financial Group began coverage on Flagstar Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $15.00 price objective for the company. Citigroup raised their price target on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Truist Financial started coverage on shares of Flagstar Financial in a research report on Tuesday, May 13th. They issued a “hold” rating and a $13.00 price objective on the stock. Finally, Wall Street Zen cut shares of Flagstar Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.39.

Flagstar Financial Stock Performance

Shares of FLG opened at $11.03 on Thursday. The firm has a market cap of $4.58 billion, a P/E ratio of -2.99 and a beta of 1.13. Flagstar Financial has a twelve month low of $8.56 and a twelve month high of $13.35. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.09 and a current ratio of 1.10. The firm’s 50 day moving average price is $11.53 and its two-hundred day moving average price is $11.17.

Flagstar Financial (NYSE:FLG) last posted its quarterly earnings data on Friday, April 25th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.03. The business had revenue of $490.00 million for the quarter, compared to analysts’ expectations of $511.00 million. Flagstar Financial had a negative net margin of 17.16% and a negative return on equity of 10.72%. The firm’s quarterly revenue was down 22.6% compared to the same quarter last year. On average, analysts forecast that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Flagstar Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Liberty 77 Capital L.P. bought a new position in Flagstar Financial during the first quarter worth about $871,500,000. Reverence Capital Partners L.P. bought a new position in shares of Flagstar Financial during the 1st quarter worth approximately $418,101,000. Vanguard Group Inc. acquired a new position in shares of Flagstar Financial during the 1st quarter worth approximately $378,161,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Flagstar Financial during the 1st quarter worth approximately $76,911,000. Finally, Azora Capital LP bought a new stake in Flagstar Financial in the 1st quarter valued at $74,133,000. 67.88% of the stock is owned by institutional investors.

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.