Charles Schwab Investment Management Inc. Acquires New Holdings in Flagstar Financial, Inc. $FLG

Charles Schwab Investment Management Inc. purchased a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,701,265 shares of the company's stock, valued at approximately $43,009,000. Charles Schwab Investment Management Inc. owned approximately 0.89% of Flagstar Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLG. KLP Kapitalforvaltning AS acquired a new position in Flagstar Financial during the 1st quarter worth approximately $712,000. AE Wealth Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $216,000. Princeton Capital Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $128,000. Cetera Investment Advisers acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $885,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Flagstar Financial in the 1st quarter valued at $2,103,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Wall Street Analyst Weigh In

FLG has been the subject of several research analyst reports. Truist Financial lowered their target price 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. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective for the company. Stephens restated an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. JPMorgan Chase & Co. cut their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Finally, DA Davidson restated a "buy" rating and set a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Price Performance

Shares of FLG traded up $0.50 during trading hours on Friday, reaching $12.30. The company had a trading volume of 1,565,293 shares, compared to its average volume of 6,384,288. The firm has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $11.63. 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 $5.11 billion, a price-to-earnings ratio of -7.45 and a beta of 1.11. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The company had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company's revenue was down 26.1% on a year-over-year basis. Research analysts expect that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

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 paid a $0.01 dividend. 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 dividend payout ratio is presently -2.42%.

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.