Certuity LLC Invests $24.11 Million in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Certuity LLC acquired 2,074,944 shares of Flagstar Financial, Inc., valued at approximately $24.11 million, making it the 8th largest position in their portfolio.
• Following the earnings report on July 25, Flagstar Financial reported an EPS of (0.14), missing analyst estimates, with a revenue of $496 million, down 26.1% year-over-year.
• Flagstar Financial declared a quarterly dividend of $0.01 per share with a payout ratio currently at -2.42%, indicating the company's negative margins.

Certuity LLC acquired a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,074,944 shares of the company's stock, valued at approximately $24,111,000. Flagstar Financial makes up 2.5% of Certuity LLC's portfolio, making the stock its 8th largest holding. Certuity LLC owned about 0.50% of Flagstar Financial at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FLG. Bayforest Capital Ltd acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $97,000. HB Wealth Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $119,000. Keynote Financial Services LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $122,000. Atlas Capital Advisors Inc. acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $122,000. Finally, Princeton Capital Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $128,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. DA Davidson reissued a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a research note on Thursday, June 26th. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Finally, Citigroup boosted their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Flagstar Financial currently has a consensus rating of "Hold" and an average target price of $13.22.

Flagstar Financial Price Performance

Shares of NYSE:FLG traded down $0.02 during trading on Friday, reaching $11.96. The company had a trading volume of 4,634,537 shares, compared to its average volume of 7,170,385. The firm's fifty day moving average is $11.41 and its 200 day moving average is $11.62. The firm has a market capitalization of $4.97 billion, a PE ratio of -7.25 and a beta of 1.11. Flagstar Financial, Inc. has a twelve month low of $8.56 and a twelve month 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.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The company had revenue of $496.00 million during 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% on a year-over-year basis. On average, equities analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 5th. Flagstar Financial's dividend payout ratio is currently -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.