Traders Buy High Volume of Flagstar Financial Put Options (NYSE:FLG)

Flagstar Financial, Inc. (NYSE:FLG) was the target of unusually large options trading activity on Wednesday. Traders purchased 17,242 put options on the stock. This represents an increase of approximately 84% compared to the average volume of 9,347 put options.

Flagstar Financial Stock Down 0.1 %

Shares of NYSE:FLG traded down $0.01 during trading on Wednesday, hitting $11.50. 1,167,071 shares of the company were exchanged, compared to its average volume of 5,891,621. Flagstar Financial has a 1-year low of $7.86 and a 1-year high of $13.35. The firm has a market cap of $4.77 billion, a P/E ratio of -3.12 and a beta of 1.16. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 1.88. The stock has a 50 day simple moving average of $11.76.

Flagstar Financial (NYSE:FLG) last issued its quarterly earnings data on Thursday, January 30th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.17. Flagstar Financial had a negative return on equity of 10.72% and a negative net margin of 17.16%. As a group, sell-side analysts anticipate that Flagstar Financial will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, March 7th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, March 7th. Flagstar Financial’s dividend payout ratio is currently -1.08%.

Analyst Ratings Changes

FLG has been the subject of several research analyst reports. DA Davidson upgraded shares of Flagstar Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $12.00 to $14.50 in a research report on Friday, January 31st. UBS Group began coverage on Flagstar Financial in a report on Tuesday, December 17th. They set a “neutral” rating and a $11.50 price target for the company. Compass Point upped their price objective on Flagstar Financial from $11.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays lifted their target price on Flagstar Financial from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased 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, January 31st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Flagstar Financial presently has a consensus rating of “Hold” and a consensus target price of $12.90.

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.