Flagstar Financial Reports Q4 Loss, Beating Analyst Estimates
HICKSVILLE, N.Y. (AP) - Flagstar Financial, Inc. (FLG) announced a loss of $160 million in its fourth quarter, translating to a loss of 41 cents per share. Excluding one-time gains and costs, the adjusted loss was 34 cents per share, exceeding Wall Street expectations.
Analysts surveyed by Zacks Investment Research projected a loss of 50 cents per share. The bank holding company also reported revenue of $1.52 billion, with net interest revenue of $625 million, surpassing analysts' estimates of $590.7 million.
For the full year, Flagstar reported a profit of $1.09 billion or $3.40 per share, with revenue of $2.55 billion.