Cetera Investment Advisers Makes New $885,000 Investment in Flagstar Financial, Inc. $FLG

Cetera Investment Advisers bought a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 76,175 shares of the company's stock, valued at approximately $885,000.

Other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Flagstar Financial in the 1st quarter valued at $712,000. AE Wealth Management LLC bought a new stake in Flagstar Financial during the first quarter worth about $216,000. Finally, Princeton Capital Management LLC bought a new stake in Flagstar Financial during the first quarter worth about $128,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Stephens reaffirmed an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. Wall Street Zen cut shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective 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. Jefferies Financial Group assumed coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Truist Financial decreased their price objective 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Trading Down 0.6%

Shares of FLG traded down $0.07 during trading hours on Monday, hitting $11.87. 805,660 shares of the stock traded hands, compared to its average volume of 6,412,034. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Flagstar Financial, Inc. has a 1-year low of $8.56 and a 1-year high of $13.35. The firm has a market capitalization of $4.93 billion, a PE ratio of -7.19 and a beta of 1.11. The business has a fifty day moving average of $11.41 and a 200-day moving average of $11.63.

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 (EPS) 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 firm had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. The firm's revenue was down 26.1% compared to the same quarter last year. Analysts expect that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial's dividend payout ratio 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.