AlphaQuest LLC Takes Position in Flagstar Financial, Inc. $FLG

Key Points

• AlphaQuest LLC acquired a new stake of 27,470 shares in Flagstar Financial, Inc. valued at approximately $319,000 during the first quarter of the year.
• In a recent earnings report, Flagstar Financial posted a quarterly EPS of ($0.14), missing the analyst consensus estimate, and experienced a 26.1% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.01, which translates to an annual yield of 0.3%, with the payout ratio currently at -2.42%.

AlphaQuest LLC purchased a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,470 shares of the company's stock, valued at approximately $319,000.

Several other institutional investors have also bought and sold shares of the business. KLP Kapitalforvaltning AS bought a new stake in shares of Flagstar Financial in the first quarter valued at about $712,000. AE Wealth Management LLC purchased a new stake in Flagstar Financial during the 1st quarter worth approximately $216,000. Princeton Capital Management LLC purchased a new stake in shares of Flagstar Financial in the first quarter valued at approximately $128,000. Cetera Investment Advisers acquired a new stake in Flagstar Financial during the first quarter worth $885,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Flagstar Financial in the first quarter worth $2,103,000. Institutional investors own 67.88% of the company's stock.

Flagstar Financial Price Performance

FLG remained flat at $12.83 during trading on Wednesday. The company had a trading volume of 511,143 shares, compared to its average volume of 6,357,106. Flagstar Financial, Inc. has a twelve month low of $8.56 and a twelve month high of $13.35. The stock has a 50 day simple moving average of $11.68 and a 200 day simple moving average of $11.64. 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 $5.33 billion, a price-to-earnings ratio of -7.78 and a beta of 1.20.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial's revenue for the quarter was down 26.1% compared to the same quarter last year. As a group, sell-side analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be given 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 is Friday, September 5th. Flagstar Financial's dividend payout ratio (DPR) is presently -2.42%.

Wall Street Analyst Weigh In

FLG has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Citigroup lifted their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a report on Tuesday, August 26th. Jefferies Financial Group assumed coverage on Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price target for the company. Truist Financial lowered their price target 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. Finally, Stephens reissued an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a research note on Thursday, June 12th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $13.33.

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.