Mirador Capital Partners LP Purchases New Position in Flagstar Financial, Inc. $FLG

Key Points

• Mirador Capital Partners LP has acquired 70,637 shares of Flagstar Financial, Inc. valued at approximately $749,000, according to its latest 13F filing with the SEC.
• The company reported a loss of $0.14 EPS for the last quarter, missing expectations, along with a 26.1% decrease in revenue compared to the same quarter last year.
• Flagstar Financial announced a quarterly dividend of $0.01 per share, representing an annualized yield of 0.3% with a payout ratio of -2.42%.

Mirador Capital Partners LP purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 70,637 shares of the company's stock, valued at approximately $749,000.

A number of other institutional investors also recently modified their holdings of FLG. Inspire Investing LLC acquired a new stake in shares of Flagstar Financial in the first quarter valued at about $422,000. Mendon Capital Advisors Corp bought a new stake in shares of Flagstar Financial during the first quarter worth approximately $2,403,000. Mutual of America Capital Management LLC bought a new stake in shares of Flagstar Financial in the first quarter valued at approximately $1,814,000. Liberty 77 Capital L.P. bought a new stake in shares of Flagstar Financial in the first quarter valued at approximately $871,500,000. Finally, Comerica Bank bought a new stake in Flagstar Financial during the first quarter worth $990,000. 67.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLG has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. DA Davidson reiterated a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. Stephens reissued an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. Truist Financial raised their price target on shares of Flagstar Financial from $12.00 to $13.50 and gave the company a "hold" rating in a research report on Friday, September 12th. Finally, Citigroup raised their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.65.

Flagstar Financial Price Performance

Shares of NYSE FLG traded down $0.22 during mid-day trading on Friday, reaching $12.19. 7,578,862 shares of the company were exchanged, compared to its average volume of 4,586,904. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.07 billion, a PE ratio of -7.39 and a beta of 1.20. The company's 50 day moving average price is $12.07 and its 200 day moving average price is $11.67.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted its quarterly earnings data 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). The company 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. Sell-side analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th were given a $0.01 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Financial's payout ratio is presently -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.