Blair William & Co. IL Makes New Investment in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Blair William & Co. IL has acquired a new position in Flagstar Financial, purchasing 56,956 shares valued at approximately $662,000 in the first quarter.
• Analyst ratings for Flagstar Financial are mixed, with one analyst downgrading the stock to a sell rating, while five maintain a hold rating and four have issued a buy rating.
• Flagstar Financial reported a loss of ($0.14) earnings per share for the most recent quarter, missing estimates, along with a revenue decline of 26.1% compared to the previous year.

Blair William & Co. IL bought a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,956 shares of the company's stock, valued at approximately $662,000.

Other hedge funds have also recently bought and sold shares of the company. Jefferies Financial Group Inc. bought a new position in Flagstar Financial in the 1st quarter worth approximately $837,000. Neo Ivy Capital Management bought a new position in Flagstar Financial in the 1st quarter worth approximately $2,103,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Flagstar Financial in the 1st quarter worth approximately $671,000. KLP Kapitalforvaltning AS bought a new position in Flagstar Financial in the 1st quarter worth approximately $712,000. Finally, Pacer Advisors Inc. bought a new position in Flagstar Financial in the 1st quarter worth approximately $296,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on FLG. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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. JPMorgan Chase & Co. reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Truist Financial reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Finally, Citigroup increased their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial Price Performance

FLG traded down $0.07 during midday trading on Friday, reaching $11.91. 595,936 shares of the company's stock were exchanged, compared to its average volume of 6,422,193. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -7.22 and a beta of 1.11. 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, Inc. has a one year low of $8.56 and a one year high of $13.35. The business has a 50-day simple moving average of $11.41 and a two-hundred day simple moving average of $11.59.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced 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). 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 return on equity of 6.60% and a negative net margin of 10.83%. The business's revenue for the quarter was down 26.1% compared to the same quarter last year. As a group, research analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current 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 paid a dividend of $0.01 per share. The ex-dividend date is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Financial's dividend payout ratio (DPR) is currently -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.