Flagstar Financial (NYSE:FLG) Trading Up 8% After Better-Than-Expected Earnings

Flagstar Financial, Inc. (NYSE:FLG) shares traded up 8% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $11.94 and last traded at $11.94. 3,173,154 shares changed hands during trading, a decline of 40% from the average session 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 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 company also recently disclosed a dividend, which was paid on Tuesday, December 17th. Investors of record on Monday, December 9th were given 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 presently -0.92%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. DA Davidson raised Flagstar Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.00 to $14.50 in a research note on Friday. Barclays upped their price target on shares of Flagstar Financial from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on Flagstar Financial from $11.00 to $12.50 and gave the stock a “neutral” rating in a report on Friday. Compass Point upped their price objective on Flagstar Financial from $11.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, UBS Group began coverage on shares of Flagstar Financial in a report on Tuesday, December 17th. They set a “neutral” rating and a $11.50 target price for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.90.

Flagstar Financial Price Performance

The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 2.52. The firm has a market cap of $4.91 billion, a P/E ratio of -2.72 and a beta of 1.09. The firm’s fifty day simple moving average 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.