Jefferies Financial Group Inc. Makes New Investment 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. purchased a new position in shares of 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. The fund purchased 72,000 shares of the company's stock, valued at approximately $837,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLG. Neo Ivy Capital Management acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $2,103,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $671,000. KLP Kapitalforvaltning AS acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $712,000. Pacer Advisors Inc. acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $296,000. Finally, Phoenix Financial Ltd. acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $2,093,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Analyst Upgrades and Downgrades

FLG has been the subject of several research analyst reports. 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 report on Friday, July 11th. Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. DA Davidson reiterated a "buy" rating and issued a $14.50 price target on shares of Flagstar Financial in a research report on Thursday, June 26th. Finally, Citigroup upped their price target on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Price Performance

Shares of FLG traded up $0.19 during trading hours on Friday, reaching $11.56. The company had a trading volume of 5,740,303 shares, compared to its average volume of 7,143,696. The firm has a 50 day simple moving average of $11.38 and a 200-day simple moving average of $11.53. 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 company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -7.01 and a beta of 1.11. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company's revenue was down 26.1% on a year-over-year basis. Research analysts expect that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 5th. Flagstar Financial's dividend 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.