189,000 Shares in Flagstar Financial, Inc. $FLG Acquired by Mendon Capital Advisors Corp

Key Points

• Mendon Capital Advisors Corp acquired 189,000 shares of Flagstar Financial, Inc. for approximately $2.4 million, making the stock its 26th largest holding.
• Wall Street analysts are mixed on Flagstar Financial, with four analysts rating it as a "Buy" and five giving it a "Hold," while the average target price is currently $13.33.
• Flagstar Financial recently reported a quarterly loss of ($0.14) EPS, missing estimates, and has announced a quarterly dividend of $0.01, resulting in a yield of 0.3%.

Mendon Capital Advisors Corp acquired a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 189,000 shares of the company's stock, valued at approximately $2,403,000. Flagstar Financial comprises 1.2% of Mendon Capital Advisors Corp's holdings, making the stock its 26th biggest position.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $51,000. Arete Wealth Advisors LLC acquired a new position in Flagstar Financial in the first quarter valued at $94,000. Bayforest Capital Ltd purchased a new stake in shares of Flagstar Financial in the first quarter valued at about $97,000. HB Wealth Management LLC acquired a new stake in shares of Flagstar Financial during the first quarter worth about $119,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Flagstar Financial during the first quarter worth about $122,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Flagstar Financial Price Performance

Shares of FLG stock traded down $0.40 during midday trading on Monday, reaching $12.27. 2,360,962 shares of the company traded hands, compared to its average volume of 6,255,308. The firm's 50 day simple moving average is $11.97 and its two-hundred day simple moving average is $11.65. The firm has a market cap of $5.10 billion, a PE ratio of -7.44 and a beta of 1.20. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. Flagstar Financial, Inc. has a 1-year low of $8.56 and a 1-year high of $13.35.

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

Flagstar Financial Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the company. Cantor Fitzgerald began coverage on Flagstar Financial in a research note on Wednesday, September 10th. They set an "overweight" rating and a $15.00 price objective for the company. Truist Financial increased their price target on Flagstar Financial from $12.00 to $13.50 and gave the stock a "hold" rating in a report on Friday. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group assumed coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective for the company. Finally, DA Davidson restated a "buy" rating and issued a $14.50 target price on shares of Flagstar Financial in a research note on Thursday, June 26th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.65.

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.