Flagstar Financial Sees Unusually High Options Volume (NYSE:FLG)

Flagstar Financial, Inc. (NYSE:FLG) saw some unusual options trading on Tuesday. Stock traders bought 10,520 put options on the company. This is an increase of approximately 70% compared to the typical volume of 6,192 put options.

Flagstar Financial Trading Down 2.5%

NYSE:FLG opened at $11.11 on Wednesday. The company has a market capitalization of $4.61 billion, a PE ratio of -4.27 and a beta of 1.13. The stock has a fifty day simple moving average of $11.65 and a 200-day simple moving average of $11.14. Flagstar Financial has a 52-week low of $8.56 and a 52-week high of $13.35. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.85.

Flagstar Financial (NYSE:FLG) last posted its quarterly earnings data on Friday, April 25th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The firm had revenue of $490.00 million during the quarter, compared to analysts’ expectations of $511.00 million. Flagstar Financial had a negative return on equity of 9.68% and a negative net margin of 14.21%. The company’s quarterly revenue was down 22.6% on a year-over-year basis. On average, equities research analysts expect that Flagstar Financial will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Saturday, June 7th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Friday, June 6th. Flagstar Financial’s dividend payout ratio is presently -1.54%.

Institutional Trading of Flagstar Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. purchased a new stake in Flagstar Financial in the 1st quarter valued at about $45,000. Brooklyn Investment Group purchased a new stake in Flagstar Financial in the 1st quarter valued at about $51,000. Arete Wealth Advisors LLC purchased a new stake in Flagstar Financial in the 1st quarter valued at about $94,000. Bayforest Capital Ltd purchased a new stake in Flagstar Financial in the 1st quarter valued at about $97,000. Finally, Strs Ohio purchased a new stake in Flagstar Financial in the 1st quarter valued at about $102,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Jefferies Financial Group assumed coverage on Flagstar Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $15.00 target price for the company. Truist Financial started coverage on Flagstar Financial in a research note on Tuesday, May 13th. They set a “hold” rating and a $13.00 price target for the company. Citigroup lifted their price target on Flagstar Financial from $15.00 to $15.50 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Stephens reaffirmed an “equal weight” rating and set a $12.50 price target on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, Wall Street Zen downgraded Flagstar Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.39.

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.