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

Key Points

• Balefire LLC acquired 57,794 shares of Flagstar Financial, Inc. for approximately $613,000 in the second quarter, highlighting increasing interest from hedge funds in the company.
• Flagstar Financial reported a negative EPS of ($0.14) for the last quarter, missing analysts' expectations, and noted a 26.1% decrease in quarterly revenue compared to the previous year.
• The company has recently declared a quarterly dividend of $0.01 per share, which translates to an annualized yield of 0.3%, although it has a negative payout ratio of -2.42%.

Balefire LLC purchased a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 57,794 shares of the company's stock, valued at approximately $613,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Geneos Wealth Management Inc. acquired a new stake in Flagstar Financial in the 1st quarter worth $45,000. Harbor Capital Advisors Inc. acquired a new stake in Flagstar Financial in the 2nd quarter worth $43,000. Brooklyn Investment Group acquired a new stake in Flagstar Financial in the 1st quarter worth $51,000. Arete Wealth Advisors LLC acquired a new stake in Flagstar Financial in the 1st quarter worth $94,000. Finally, Bayforest Capital Ltd acquired a new stake in Flagstar Financial in the 1st quarter worth $97,000. Institutional investors own 67.88% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. DA Davidson reiterated a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Stephens restated an "equal weight" rating and issued a $12.50 price target on shares of Flagstar Financial in a research report on Thursday, June 12th. Citigroup boosted their price target 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. Cantor Fitzgerald began coverage on shares of Flagstar Financial in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $15.00 price target on the stock. Finally, Truist Financial boosted their price target on shares of Flagstar Financial from $12.00 to $13.50 and gave the company a "hold" rating in a research report on Friday, September 12th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.65.

Flagstar Financial Stock Performance

Shares of FLG traded down $0.22 during trading hours on Friday, hitting $12.19. The company had a trading volume of 7,578,862 shares, compared to its average volume of 6,254,292. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -7.39 and a beta of 1.20. The business has a fifty day moving average of $12.05 and a 200-day moving average of $11.67. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $524.33 million. The firm's revenue for the quarter was down 26.1% compared to the same quarter last year. Equities analysts anticipate that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Sunday, September 7th were 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 of this dividend was Friday, September 5th. Flagstar Financial's dividend payout ratio (DPR) is currently -2.42%.

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.