Addison Capital Co Acquires New Position in Flagstar Financial, Inc. $FLG

Key Points

• Addison Capital Co has acquired a new stake in Flagstar Financial, purchasing 45,093 shares valued at approximately $524,000.
• Wall Street analysts have mixed ratings on Flagstar Financial; while JPMorgan downgraded the stock to a "neutral" rating with a price target of $12.00, Cantor Fitzgerald issued an "overweight" rating with a target of $15.00.
• Flagstar Financial recently reported a loss of $0.14 per share for the last quarter, missing analysts' expectations and showing a significant revenue decline of 26.1% year-over-year.

Addison Capital Co bought 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 (SEC). The institutional investor bought 45,093 shares of the company's stock, valued at approximately $524,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Liberty 77 Capital L.P. bought a new position in shares of Flagstar Financial in the first quarter worth approximately $871,500,000. Reverence Capital Partners L.P. bought a new position in Flagstar Financial during the first quarter valued at approximately $418,101,000. Vanguard Group Inc. bought a new position in Flagstar Financial during the first quarter valued at approximately $378,161,000. T. Rowe Price Investment Management Inc. bought a new position in Flagstar Financial during the first quarter valued at approximately $76,911,000. Finally, Azora Capital LP bought a new position in Flagstar Financial during the first quarter valued at approximately $74,133,000. Institutional investors own 67.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FLG shares. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective on the stock. Citigroup increased their price objective 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. Stephens restated an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. 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, JPMorgan Chase & Co. decreased 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. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.65.

Flagstar Financial Price Performance

FLG stock traded down $0.08 during trading on Friday, hitting $12.68. 3,319,539 shares of the company's stock traded hands, compared to its average volume of 4,714,783. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The business has a fifty day simple moving average of $11.97 and a 200 day simple moving average of $11.65. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -7.68 and a beta of 1.20.

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). 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 net margin of 10.83% and a negative return on equity of 6.60%. The company's quarterly revenue was down 26.1% compared to the same quarter last year. As a group, research analysts expect that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be issued 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 -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.