Algert Global LLC Buys New Shares in Flagstar Financial, Inc. $FLG

Key Points

• Algert Global LLC acquired 285,073 shares of Flagstar Financial, valued at approximately $3.3 million, marking a new position for the firm in the company.
• Flagstar Financial reported a loss of $0.14 EPS for the last quarter, missing analysts' expectations, with a significant revenue decline of 26.1% year-over-year.
• The company announced a $0.01 quarterly dividend, reflecting a low payout ratio and a yield of 0.3%, scheduled to be paid on September 17.

Algert Global LLC purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 285,073 shares of the company's stock, valued at approximately $3,313,000. Algert Global LLC owned 0.07% of Flagstar Financial at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FLG. Bayforest Capital Ltd acquired a new stake in Flagstar Financial during the 1st quarter worth approximately $97,000. HB Wealth Management LLC acquired a new stake in Flagstar Financial during the 1st quarter worth approximately $119,000. Atlas Capital Advisors Inc. acquired a new stake in Flagstar Financial during the 1st quarter worth approximately $122,000. Keynote Financial Services LLC acquired a new stake in Flagstar Financial during the 1st quarter worth approximately $122,000. Finally, Princeton Capital Management LLC acquired a new stake in Flagstar Financial during the 1st quarter worth approximately $128,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Financial Stock Down 0.6%

Shares of FLG traded down $0.07 during mid-day trading on Monday, hitting $12.56. 5,581,762 shares of the company's stock were exchanged, compared to its average volume of 6,389,767. The company has a market cap of $5.22 billion, a PE ratio of -7.61 and a beta of 1.11. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a 50-day simple moving average of $11.49 and a 200 day simple moving average of $11.63. 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 issued its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share 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 the consensus estimate 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, research analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm 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 dividend of $0.01 per share. 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 dividend payout ratio (DPR) is currently -2.42%.

Analyst Upgrades and Downgrades

Several analysts have commented on FLG shares. Stephens restated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. Jefferies Financial Group started coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price on the stock. Citigroup raised their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. dropped their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. Finally, Truist Financial dropped 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. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Flagstar Financial has an average rating of "Hold" and an average target price of $13.22.

Flagstar Financial 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.