Flagstar Financial (NYSE:FLG) Shares Gap Up Following Better-Than-Expected Earnings

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 traded.

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

Analyst Upgrades and Downgrades

FLG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Flagstar Financial from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. 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 target price for the company. Finally, Compass Point boosted their price objective on shares of Flagstar Financial from $11.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th.

Flagstar Financial Stock Performance

The company has a debt-to-equity ratio of 2.52, a current ratio of 1.14 and a quick ratio of 1.12. The firm’s 50-day simple moving average is $10.12. The stock has a market cap of $4.69 billion, a PE ratio of -2.59 and a beta of 1.09.

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.