Flagstar Financial (NYSE:FLG) Given New $12.00 Price Target at JPMorgan Chase & Co.

Flagstar Financial (NYSE:FLG) had its price target cut by JPMorgan Chase & Co. from $13.00 to $12.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently weighed in on the company. DA Davidson reiterated a “buy” rating and issued a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Wall Street Zen downgraded Flagstar Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Jefferies Financial Group assumed coverage on Flagstar Financial in a research report on Wednesday, May 21st. They issued a “buy” rating and a $15.00 price objective for the company. Truist Financial assumed coverage on Flagstar Financial in a research report on Tuesday, May 13th. They issued a “hold” rating and a $13.00 price objective for the company. Finally, Stephens reiterated an “equal weight” rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Flagstar Financial presently has an average rating of “Hold” and a consensus price target of $13.33.

Flagstar Financial Stock Up 3.4%

Shares of NYSE FLG opened at $10.96 on Tuesday. Flagstar Financial has a 12 month low of $8.56 and a 12 month high of $13.35. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -4.22 and a beta of 1.10. The business has a 50-day moving average of $11.68 and a 200-day moving average of $11.13.

Flagstar Financial (NYSE:FLG) last issued its earnings results on Friday, April 25th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.03. The business had revenue of $490.00 million during the quarter, compared to analyst estimates 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. Sell-side analysts expect that Flagstar Financial will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. Flagstar Financial’s dividend payout ratio (DPR) is presently -1.54%.

Institutional Investors Weigh In On Flagstar Financial

Several institutional investors have recently modified their holdings of FLG. KLP Kapitalforvaltning AS purchased a new stake in shares of Flagstar Financial during the first quarter valued at $712,000. AE Wealth Management LLC purchased a new stake in shares of Flagstar Financial during the first quarter valued at $216,000. Princeton Capital Management LLC purchased a new stake in shares of Flagstar Financial during the first quarter valued at $128,000. Cetera Investment Advisers bought a new position in Flagstar Financial in the first quarter valued at about $885,000. Finally, Neo Ivy Capital Management bought a new position in Flagstar Financial in the first quarter valued at about $2,103,000. 67.88% of the stock is owned by hedge funds and other 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.