Aigen Investment Management LP Invests $440,000 in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Aigen Investment Management LP acquired 37,823 shares of Flagstar Financial, Inc. for approximately $440,000 in the first quarter, highlighting a growing interest from institutional investors.
• Flagstar Financial reported a net loss per share of ($0.14) in its latest earnings, missing analysts' estimates and experiencing a significant 26.1% decline in revenue compared to the previous year.
• Research analysts have mixed ratings on Flagstar Financial, with an average target price of $13.22 and ratings varying from "buy" to "hold" among them.

Aigen Investment Management LP bought a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 37,823 shares of the company's stock, valued at approximately $440,000.

A number of other institutional investors have also recently bought and sold shares of FLG. Bayforest Capital Ltd purchased a new stake in Flagstar Financial in the first quarter valued at approximately $97,000. HB Wealth Management LLC purchased a new stake in Flagstar Financial during the first quarter worth approximately $119,000. Keynote Financial Services LLC purchased a new stake in Flagstar Financial during the first quarter worth approximately $122,000. Atlas Capital Advisors Inc. purchased a new stake in Flagstar Financial during the first quarter worth approximately $122,000. Finally, Princeton Capital Management LLC purchased a new stake in Flagstar Financial during the first quarter worth approximately $128,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Flagstar Financial Stock Performance

Shares of NYSE:FLG traded down $0.02 during trading on Friday, reaching $11.96. 4,634,537 shares of the company's stock traded hands, compared to its average volume of 6,448,791. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35. The company has a 50 day moving average of $11.41 and a 200-day moving average of $11.61. The stock has a market capitalization of $4.97 billion, a P/E ratio of -7.25 and a beta of 1.11.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. The firm's revenue was down 26.1% on a year-over-year basis. On average, equities analysts expect that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be paid a dividend of $0.01 per share. 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 payout ratio is presently -2.42%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLG shares. Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Citigroup boosted their price objective 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. 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. Truist Financial dropped their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. dropped 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 note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial 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.