Flagstar Financial (NYSE:FLG) Shares Gap Up After Strong Earnings

Flagstar Financial, Inc. (NYSE:FLG) gapped up before the market opened on Thursday following a stronger than expected earnings report. 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, topping the consensus estimate 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 firm also recently announced a dividend, which was paid on Tuesday, December 17th. Shareholders of record on Monday, December 9th were given a dividend of $0.01 per share. This represents a yield of 0.33%. The ex-dividend date of this dividend was Friday, December 6th. Flagstar Financial’s payout ratio is -0.92%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FLG shares. Compass Point lifted their price target on Flagstar Financial from $11.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their target price on shares of Flagstar Financial from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group began coverage on shares of Flagstar Financial in a report on Tuesday, December 17th. They issued a “neutral” rating and a $11.50 price target for the company.

Flagstar Financial Stock Up 14.9 %

The stock has a fifty day simple moving average of $10.10. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $4.58 billion, a PE ratio of -2.53 and a beta of 1.09.

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.