1,030,548 Shares in Flagstar Financial, Inc. $FLG Acquired by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC acquired 1,030,548 shares of Flagstar Financial, Inc., valued at approximately $11.98 million, increasing its ownership to about 0.25% of the company.
• Flagstar Financial reported a Q2 EPS of ($0.14), missing estimates, and observed a significant 26.1% decline in quarterly revenue compared to the same period last year.
• The company announced a quarterly dividend of $0.01 per share, yielding 0.3%, to be paid on September 17th to shareholders of record by September 7th.

Hotchkis & Wiley Capital Management LLC purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,030,548 shares of the company's stock, valued at approximately $11,975,000. Hotchkis & Wiley Capital Management LLC owned about 0.25% of Flagstar Financial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FLG. Mutual of America Capital Management LLC bought a new stake in shares of Flagstar Financial during the first quarter worth $1,814,000. Liberty 77 Capital L.P. acquired a new stake in shares of Flagstar Financial during the 1st quarter valued at $871,500,000. PNC Financial Services Group Inc. bought a new stake in Flagstar Financial during the 1st quarter worth $288,000. LPL Financial LLC acquired a new position in Flagstar Financial in the 1st quarter worth about $2,423,000. Finally, Jefferies Financial Group Inc. acquired a new position in Flagstar Financial in the 1st quarter worth about $837,000. 67.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective for the company. Truist Financial reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Wall Street Zen cut shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stephens reaffirmed an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, DA Davidson reiterated a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial Trading Up 6.8%

NYSE:FLG opened at $12.60 on Friday. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The firm's fifty day moving average is $11.47 and its 200-day moving average is $11.63. The firm has a market cap of $5.24 billion, a P/E ratio of -7.64 and a beta of 1.11.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The firm's quarterly revenue was down 26.1% compared to the same quarter last year. Equities analysts expect that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, September 5th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Financial's dividend payout ratio is presently -2.42%.

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.

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