Flagstar Financial (NYSE:FLG) Shares Gap Up After 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 return on equity of 11.35% and a negative net margin of 18.40%.

Flagstar Financial Dividend Announcement

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

Analyst Ratings Changes

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

Flagstar Financial Stock Performance

The company has a market cap of $4.91 billion, a PE ratio of -2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.12 and a current ratio of 1.14. The business’s 50-day moving average price is $10.11.

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.