Comerica Bank Invests $990,000 in Flagstar Financial, Inc. $FLG

Key Points

• Comerica Bank has invested approximately $990,000 in Flagstar Financial, acquiring 85,211 shares of the company during the first quarter.
• Flagstar Financial reported an EPS of ($0.14) for the last quarter, which missed analysts' expectations, and experienced a 26.1% decline in revenue year-over-year.
• The company is set to pay a quarterly dividend of $0.01 on September 17th, signaling a current annualized dividend yield of 0.3%.

Comerica Bank bought a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 85,211 shares of the company's stock, valued at approximately $990,000.

Several other institutional investors and hedge funds have also modified their holdings of FLG. Brooklyn Investment Group bought a new position in Flagstar Financial in the 1st quarter worth approximately $51,000. Bayforest Capital Ltd bought a new position in Flagstar Financial in the 1st quarter worth approximately $97,000. HB Wealth Management LLC bought a new position in Flagstar Financial in the 1st quarter worth approximately $119,000. Atlas Capital Advisors Inc. bought a new position in Flagstar Financial in the 1st quarter worth approximately $122,000. Finally, Keynote Financial Services LLC bought a new position in Flagstar Financial in the 1st quarter worth approximately $122,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Flagstar Financial Stock Performance

Shares of Flagstar Financial stock opened at $12.97 on Friday. The firm has a fifty day moving average of $11.80 and a two-hundred day moving average of $11.65. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of -7.86 and a beta of 1.20. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 net margin of 10.83% and a negative return on equity of 6.60%. The company's revenue for the quarter was down 26.1% on a year-over-year basis. As a group, equities research analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be given a $0.01 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Financial's dividend payout ratio is currently -2.42%.

Analyst Ratings Changes

Several research firms recently weighed in on FLG. Wall Street Zen cut shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup boosted their price objective on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Stephens restated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. Jefferies Financial Group began coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped 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 report on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Flagstar Financial has a consensus rating of "Hold" and a consensus price target of $13.33.

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.

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