Flagstar Bank Shares Fall on Weak Q2 Results

FLG Flagstar Bank NA

$10.38 -9.27%

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1. 1Flagstar Bank (FLG) shares dropped 1.09% in premarket trading after the company reported its Q2 results.
2. 2Adjusted EPS came in at $0.05, missing market expectations of $0.07, while revenue of $516.0 million also fell short of the $541.97 million forecast.
3. 3Revenue rose 4% year-over-year, marking a third consecutive quarter of profit, but the company announced a new $250 million share buyback program.

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