Jefferies Financial Group Inc. Takes $837,000 Position in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Jefferies Financial Group Inc. acquired 72,000 shares of Flagstar Financial, valued at approximately $837,000, in the first quarter.
• Flagstar Financial reported a quarterly loss of ($0.14) earnings per share, missing estimates, with a 26.1% year-over-year revenue decline to $496 million.
• The company announced a quarterly dividend of $0.01, representing a yield of 0.4%, to be paid on September 17th.

Jefferies Financial Group Inc. bought a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 72,000 shares of the company's stock, valued at approximately $837,000.

Several other institutional investors have also made changes to their positions in the company. Private Management Group Inc. acquired a new position in shares of Flagstar Financial in the first quarter worth $35,669,000. Federated Hermes Inc. acquired a new stake in Flagstar Financial during the first quarter valued at $11,449,000. US Bancorp DE purchased a new position in Flagstar Financial in the first quarter valued at about $2,572,000. LPL Financial LLC acquired a new position in Flagstar Financial in the 1st quarter worth about $2,423,000. Finally, Neo Ivy Capital Management acquired a new position in Flagstar Financial in the 1st quarter worth about $2,103,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Financial Stock Up 1.2%

Shares of Flagstar Financial stock traded up $0.14 during trading on Thursday, reaching $11.44. The company's stock had a trading volume of 8,891,389 shares, compared to its average volume of 6,953,469. Flagstar Financial, Inc. has a one year low of $8.56 and a one year high of $13.35. 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 business's fifty day moving average price is $11.38 and its 200-day moving average price is $11.51.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings results 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 return on equity of 6.60% and a negative net margin of 10.83%. The business had revenue of $496.00 million during the quarter, compared to the consensus estimate of $524.33 million. The firm's quarterly revenue was down 26.1% on a year-over-year basis. Analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 is Friday, September 5th. Flagstar Financial's dividend payout ratio (DPR) is presently -2.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FLG shares. Wall Street Zen cut Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price for the company. Citigroup increased their price target on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. DA Davidson reaffirmed a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. Finally, Stephens reissued an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.