6,618,769 Shares in Flagstar Financial, Inc. $FLG Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. acquired 6,618,769 shares of Flagstar Financial, valued at approximately $76.9 million, representing about 1.59% ownership of the company.
• Flagstar Financial reported a loss of ($0.14) earnings per share for the quarter, falling short of analysts' consensus estimates, with a revenue decline of 26.1% year-over-year.
• The company recently declared a quarterly dividend of $0.01 per share, yielding 0.3%, with the ex-dividend date set for September 5th.

T. Rowe Price Investment Management Inc. acquired a new position 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 institutional investor acquired 6,618,769 shares of the company's stock, valued at approximately $76,911,000. T. Rowe Price Investment Management Inc. owned 1.59% of Flagstar Financial as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FLG. Brooklyn Investment Group bought a new position in shares of Flagstar Financial during the 1st quarter valued at about $51,000. Bayforest Capital Ltd bought a new position in shares of Flagstar Financial during the 1st quarter valued at approximately $97,000. HB Wealth Management LLC purchased a new position in shares of Flagstar Financial in the first quarter valued at $119,000. Atlas Capital Advisors Inc. bought a new stake in Flagstar Financial in the first quarter worth $122,000. Finally, Keynote Financial Services LLC bought a new stake in shares of Flagstar Financial in the 1st quarter worth about $122,000. 67.88% of the stock is currently owned by institutional investors.

Flagstar Financial Price Performance

Shares of NYSE FLG traded down $0.02 during trading on Thursday, reaching $12.84. The company had a trading volume of 1,070,256 shares, compared to its average volume of 6,405,476. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.34 billion, a PE ratio of -7.78 and a beta of 1.11. The stock has a 50-day moving average price of $11.56 and a two-hundred day moving average price of $11.65. Flagstar Financial, Inc. has a twelve month low of $8.56 and a twelve month high of $13.35.

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 the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial's revenue was down 26.1% compared to the same quarter last year. As a group, sell-side analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

The company 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 $0.01 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Financial's payout ratio is currently -2.42%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FLG shares. Citigroup lifted their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a research note on Tuesday. Jefferies Financial Group assumed coverage on Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target for the company. DA Davidson reaffirmed a "buy" rating and issued a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price target 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. Finally, Wall Street Zen lowered Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Flagstar Financial has an average rating of "Hold" and a consensus target price of $13.33.

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.