Flagstar Financial, Inc.
- Open
- 14.91
- Day high
- 14.98
- Day low
- 14.79
- Prev close
- 14.90
- Volume
- 3.2M
- Mkt cap
- $6.2B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.8
- P/S
- 1.4
- Yield
- 0.27%
- Per share
- $0.04
Flagstar Financial, Inc. (FLG) is a Financial Services company listed on NYSE. The stock is up 25% over the past year.
Flagstar Financial, Inc. (FLG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FLG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $0.03 | $0.04 | +33.3% | $498M | -10.0% |
| Jan 30, 2026 | $0.02 | $0.06 | +200.0% | $523M | -7.1% |
| Oct 24, 2025 | $-0.06 | $-0.07 | -16.7% | $455M | -15.2% |
| Jul 25, 2025 | $-0.12 | $-0.14 | -16.7% | $496M | -10.9% |
| Apr 25, 2025 | $-0.26 | $-0.23 | +11.5% | $490M | -9.7% |
| Jan 30, 2025 | $-0.51 | $-0.34 | +33.3% | $536M | -4.2% |
| Oct 25, 2024 | $-0.40 | $-0.69 | -72.5% | $623M | +1.8% |
| Jul 25, 2024 | $-0.42 | $-1.05 | -150.0% | $671M | -7.2% |
| Mar 31, 2024 | $-0.79 | $-1.33 | -68.7% | $754M | -2.9% |
| Dec 31, 2023 | $0.80 | $-11.23 | -1505.9% | $878M | -5.5% |
| Sep 30, 2023 | $0.99 | $0.86 | -13.5% | $1.0B | +10.6% |
| Jun 30, 2023 | $0.87 | $1.71 | +97.2% | $1.1B | +20.7% |
FLG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jan 29, 2026 | MNUCHIN STEVEN Tdirector, 10 percent owner: | Grant | 9,939 | — |
| Jul 16, 2025 | Marx Bryanofficer: EVP & Princ Accounting Officer | Tax | 630 | — |
| May 27, 2025 | Davis Reginald Eofficer: Sr EVP & President of Banking | Tax | 4,852 | — |
| May 27, 2025 | Marx Bryanofficer: EVP & Princ Accounting Officer | Tax | 789 | — |
| May 16, 2025 | Buchanan Georgeofficer: EVP and Chief Risk Officer | Tax | 2,718 | — |
| Mar 31, 2025 | MNUCHIN STEVEN Tdirector, 10 percent owner: | Option | 10,357 | — |
| Mar 25, 2025 | Davis Reginald Eofficer: Sr EVP & President of Banking | Tax | 1,398 | — |
| Mar 25, 2025 | Smith Lee Matthewofficer: SEVP & Chief Financial Officer | Tax | 2,131 | — |
| Mar 25, 2025 | Smith Lee Matthewofficer: SEVP & Chief Financial Officer | Tax | 1,491 | — |
| Mar 18, 2025 | Otting Joseph Mdirector, officer: Exec Chairman, President & CEO | Grant | 252,951 | — |
| Mar 18, 2025 | Gagnon Krisofficer: Sr EVP & Chief Credit Officer | Grant | 50,590 | — |
| Mar 18, 2025 | Marx Bryanofficer: EVP & Princ Accounting Officer | Grant | 25,295 | — |
| Mar 18, 2025 | Buchanan Georgeofficer: EVP and Chief Risk Officer | Grant | 16,863 | — |
| Mar 18, 2025 | Bao Nguyenofficer: SEVP, GC & Chf of Staff to CEO | Grant | 50,590 | — |
| Mar 7, 2025 | DiNello Alessandrodirector | Tax | 174,805 | — |
Source: FLG SEC Form 4 filings, latest Jan 29, 2026. For informational purposes only — not investment advice.
See the full FLG insider & 13F page →Flagstar Financial, Inc. company profile
Overview
Flagstar Financial, Inc. (NYSE:FLG) is a regional bank holding company that operates through its subsidiary Flagstar Bank, N.A. Originally founded in 1859 as Queens County Savings Bank, the company underwent significant transformation in recent years, including a major acquisition and subsequent rebranding. The institution was formerly known as New York Community Bancorp until October 2024, when it changed its name to Flagstar Financial following its acquisition of Flagstar Bank. The company crossed the $100 billion asset threshold in 2023, making it subject to enhanced regulatory oversight as a Category IV bank. Currently headquartered in Hicksville, New York, Flagstar Financial has been navigating a challenging period of strategic restructuring while managing credit quality issues in its commercial real estate portfolio.
Business
Flagstar Financial operates as a traditional regional bank, providing comprehensive banking services to individuals, small and mid-sized businesses, and professional associations across the United States. The bank's core business revolves around taking deposits from customers and lending those funds to borrowers, earning profits from the interest rate spread between what it pays depositors and what it charges borrowers. The company's loan portfolio is primarily concentrated in commercial real estate financing, which represents a significant portion of its lending activities. Commercial real estate (CRE) loans include financing for apartment buildings, office complexes, retail properties, and other commercial properties. Within this category, multifamily loans for apartment buildings represent the largest segment, historically accounting for approximately 44% of total loans. The bank also maintains an office portfolio that has been under particular scrutiny due to challenges in the commercial office market. Commercial and industrial (C&I) loans represent another key business line, currently comprising about $16-20 billion of the portfolio. These loans serve businesses for working capital, equipment purchases, and other operational needs. The bank has identified C&I lending as a strategic growth area, targeting expansion to $30 billion by 2027. On the deposit side, Flagstar Financial offers traditional banking products including checking accounts, savings accounts, money market accounts, and certificates of deposit. The bank operates through multiple channels including retail branches, private banking services for high-net-worth clients, and digital banking platforms. Private banking has been a particular growth driver, focusing on affluent customers who typically maintain larger deposit balances and utilize multiple banking services. The bank also provides cash management services for business clients, along with non-deposit investment and insurance products. Historically, the company was involved in mortgage servicing and warehouse lending, but these non-core businesses were divested as part of the strategic restructuring.
Revenue model
Flagstar Financial generates revenue primarily through net interest income, which is the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This traditional banking model depends on maintaining a positive interest rate spread while managing credit risk and funding costs. The bank's primary revenue streams include interest income from its loan portfolio, with commercial real estate loans and commercial & industrial loans being the largest contributors. Fee income represents a smaller portion of revenue, generated through cash management services, deposit account fees, and various banking services. The company has been working to expand fee-based income through cross-selling opportunities, particularly in its private banking division. Several factors significantly impact the bank's profitability margins. Interest rate environment plays a crucial role - rising rates can improve net interest margins if loan rates adjust faster than deposit costs, but can also increase funding costs and credit risk. The bank's heavy concentration in commercial real estate makes it particularly sensitive to property market conditions and commercial real estate valuations. Credit quality represents a major margin factor, as loan losses directly impact profitability. The bank has experienced elevated provision expenses due to challenges in its CRE portfolio, particularly office properties affected by changing work patterns post-pandemic. Regulatory compliance costs have increased significantly since crossing the $100 billion asset threshold, requiring enhanced risk management infrastructure and capital requirements. Deposit competition affects funding costs, with the bank competing for stable, low-cost deposits in a competitive market. The institution's operational efficiency is also under focus, with management targeting $600 million in expense reductions by 2025 to improve profitability. Wholesale funding dependence has been a concern, though the bank has been working to reduce reliance on more expensive wholesale borrowings in favor of core deposits.
Competitive moat
Flagstar Financial operates in the highly competitive regional banking sector and faces significant challenges in establishing a strong competitive moat. The bank's primary competitive advantages are relatively modest and center around its deposit franchise and customer relationships, particularly in its core New York metropolitan area markets where it has operated for over 160 years. The institution's private banking division represents its strongest moat component, serving high-net-worth clients who tend to maintain sticky, long-term relationships and generate higher fee income. These relationships often involve multiple products and services, creating switching costs for customers. The bank's commercial banking expertise, particularly in multifamily real estate lending in the New York market, provides some specialized knowledge and relationships that competitors may find difficult to replicate quickly. However, Flagstar Financial's competitive position is currently weakened by several factors. The heavy concentration in commercial real estate, while providing expertise, also creates vulnerability to market cycles and regulatory scrutiny. The bank's recent crossing of the $100 billion asset threshold subjects it to enhanced regulatory requirements without necessarily providing corresponding competitive advantages. The regional banking industry itself offers limited natural moats, as banking services are largely commoditized and customers can easily switch providers. Digital banking has lowered barriers to entry and expanded competition beyond geographic boundaries. Fintech companies continue to unbundle traditional banking services, while larger national banks have significant advantages in technology investment, regulatory compliance capabilities, and funding costs. The bank's current strategic restructuring, while necessary, has created additional competitive challenges. Credit quality issues in the CRE portfolio have damaged the institution's reputation and financial performance, making it more difficult to attract deposits and quality borrowers. The ongoing expense reduction program, while improving efficiency, may also limit the bank's ability to invest in technology and talent needed to compete effectively. Overall, Flagstar Financial's moat is relatively narrow and under pressure, requiring successful execution of its strategic transformation to maintain competitive viability in the evolving banking landscape.
Risks & safety
Flagstar Financial presents a moderate to high risk profile with limited margin of safety, though the institution maintains adequate liquidity and capital levels. **Solvency and Liquidity:** - Strong liquidity position with $15.4 billion in cash and short-term investments - Current ratio of 548x indicates excellent short-term liquidity - Total assets of $100.2 billion vs. total liabilities of $92.0 billion - CET1 capital ratio improved to 11.9%, above regulatory minimums - Debt-to-equity ratio of 1.77x is elevated but manageable for a bank **Profitability and Cash Flow:** - Significant losses: -$1.1 billion net income for FY 2024 - Negative EBITDA of -$1.3 billion for FY 2024 - Positive operating cash flow of $86 million for FY 2024, though volatile - Free cash flow of $50 million indicates minimal cash generation **Valuation Metrics:** - Price-to-book ratio of 0.37x suggests potential undervaluation - Negative P/E ratio due to losses makes traditional valuation difficult - Trading below tangible book value **Other Considerations:** - Heavy exposure to commercial real estate creates concentration risk - Regulatory oversight as Category IV bank increases compliance costs - Management targeting profitability by 2026, indicating extended recovery period - Asset quality concerns with elevated non-performing loans expected through 2026
Recent development
Flagstar Financial has undergone dramatic transformation over the past two years, fundamentally reshaping its business model and strategic direction. The most significant development was the acquisition of Flagstar Bank, which pushed the combined entity over the $100 billion asset threshold and triggered enhanced regulatory oversight as a Category IV bank. This acquisition integration was completed in 2023, followed by the corporate rebranding to Flagstar Financial in October 2024. The company has implemented a comprehensive strategic restructuring program focused on reducing commercial real estate exposure and diversifying into commercial and industrial lending. Management has systematically reduced the CRE portfolio from approximately $47 billion to a target of $30 billion, with office properties seeing particularly aggressive reduction of 27% in 2024 alone. Simultaneously, the bank is expanding its C&I lending platform, hiring 54 commercial bankers in the second half of 2024 and planning to add 100 more in 2025. Risk management infrastructure has been substantially enhanced, with the company conducting comprehensive reviews of its entire CRE portfolio and implementing more rigorous credit standards. The institution completed a detailed 18-month forward-looking credit analysis, resulting in significant reserve builds and proactive management of problem assets. Operational efficiency initiatives represent another major development focus. Management announced plans to reduce operating expenses by $600 million (23%) by the end of 2025, including workforce reductions and real estate consolidation. The bank is consolidating 20 private client locations and 60 retail branches while investing in technology infrastructure. Capital and funding optimization has been a key priority, with the bank reducing wholesale borrowings by $7 billion (34%) and improving its loan-to-deposit ratio to 90%. The institution has focused on growing core deposits, particularly through its private banking division, which has shown consistent growth throughout the restructuring period. The company has also divested non-core businesses, including the sale of mortgage servicing operations and warehouse lending facilities, allowing management to focus resources on core banking activities and improve capital ratios.
FLG company profile · for informational purposes only — not investment advice.
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