985,301 Shares in Flagstar Financial, Inc. (NYSE:FLG) Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. acquired 985,301 shares of Flagstar Financial, marking a new investment estimated at $11.45 million, which represents approximately 0.24% of the company.
• Flagstar Financial recently reported a loss of ($0.14) EPS for the last quarter, underperforming against the consensus estimate and exhibiting a negative net margin of 10.83%.
• The company declared a quarterly dividend of $0.01, set to be paid on September 17, representing an annualized yield of 0.4% amid a negative dividend payout ratio of -2.42%.

Federated Hermes Inc. bought a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 985,301 shares of the company's stock, valued at approximately $11,449,000. Federated Hermes Inc. owned approximately 0.24% of Flagstar Financial at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FLG. HB Wealth Management LLC acquired a new position in shares of Flagstar Financial during the first quarter worth approximately $119,000. Princeton Capital Management LLC acquired a new position in Flagstar Financial in the first quarter valued at approximately $128,000. Mackenzie Financial Corp acquired a new position in Flagstar Financial in the first quarter valued at approximately $182,000. Inspire Advisors LLC acquired a new position in Flagstar Financial in the first quarter valued at approximately $215,000. Finally, AE Wealth Management LLC acquired a new position in Flagstar Financial in the first quarter valued at approximately $216,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FLG shares. DA Davidson reiterated a "buy" rating and issued a $14.50 target price on shares of Flagstar Financial in a report on Thursday, June 26th. JPMorgan Chase & Co. cut their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Jefferies Financial Group began coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price on the stock. Finally, Truist Financial dropped their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Stock Performance

FLG stock traded up $0.02 during trading hours on Monday, reaching $11.22. The stock had a trading volume of 5,208,187 shares, compared to its average volume of 7,037,716. The stock has a 50-day simple moving average of $11.42 and a 200 day simple moving average of $11.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $4.66 billion, a PE ratio of -6.80 and a beta of 1.11. Flagstar Financial, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $524.33 million. The company's revenue for the quarter was down 26.1% on a year-over-year basis. Analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. Flagstar Financial's payout ratio is -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.