US Bancorp DE Makes New Investment in Flagstar Financial, Inc. (NYSE:FLG)

US Bancorp DE acquired a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 221,311 shares of the company's stock, valued at approximately $2,572,000. US Bancorp DE owned approximately 0.05% of Flagstar Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Bayforest Capital Ltd acquired a new position in shares of Flagstar Financial during the 1st quarter worth $97,000. HB Wealth Management LLC purchased a new position in Flagstar Financial during the 1st quarter valued at about $119,000. Princeton Capital Management LLC acquired a new position in Flagstar Financial during the first quarter worth about $128,000. Wellington Shields & Co. LLC acquired a new position in shares of Flagstar Financial during the 1st quarter worth approximately $131,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Flagstar Financial in the first quarter worth $182,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Flagstar Financial Trading Up 1.7%

NYSE:FLG traded up $0.19 during trading hours on Friday, reaching $11.56. 5,740,303 shares of the company were exchanged, compared to its average volume of 6,486,745. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -7.01 and a beta of 1.11. The stock has a 50 day simple moving average of $11.38 and a 200 day simple moving average of $11.53. 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 current ratio of 1.02 and a quick ratio of 1.02.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported ($0.14) 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 firm had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. The business's revenue for the quarter was down 26.1% on a year-over-year basis. As a group, analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 5th. Flagstar Financial's payout ratio is currently -2.42%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLG. Citigroup upped their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Truist Financial lowered their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, July 11th. DA Davidson reissued a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a research note on Thursday, June 26th. Finally, Jefferies Financial Group assumed coverage on Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Company Profile

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.