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

Flagstar Financial, Inc. (NYSE:FLG) rose 8% during trading on Friday following a better than expected earnings announcement. The company traded as high as $11.94 and last traded at $11.94. Approximately 3,173,154 shares were traded during 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 is currently -0.92%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FLG shares. JPMorgan Chase & Co. upped their target price on shares of Flagstar Financial from $11.00 to $12.50 and gave the stock a “neutral” rating in a report on Friday. Compass Point raised 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 Flagstar Financial in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $11.50 price objective for the company. DA Davidson upgraded Flagstar Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $14.50 in a research report on Friday. Finally, Barclays boosted their price objective on shares of Flagstar Financial from $13.00 to $14.00 and gave the company an “overweight” rating in a research 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. According to data from MarketBeat.com, Flagstar Financial has an average rating of “Hold” and a consensus price target of $12.90.

Flagstar Financial Price Performance

The company has a market capitalization of $4.91 billion, a P/E ratio of -2.72 and a beta of 1.09. The stock has a 50 day moving average price of $10.11. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.12 and a current ratio of 1.14.

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.