Fox Run Management L.L.C. Buys Shares of 40,366 Flagstar Financial, Inc. $FLG

Key Points

• Fox Run Management L.L.C. acquired 40,366 shares of Flagstar Financial, Inc. valued at approximately $469,000, alongside multiple other institutional investors boosting their stakes in the company.
• Flagstar Financial's recent earnings report showed a loss of $0.14 EPS, missing estimates and indicating a 26.1% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.01 per share, representing an annualized yield of 0.3% and a negative dividend payout ratio of -2.42%.

Fox Run Management L.L.C. purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,366 shares of the company's stock, valued at approximately $469,000.

A number of other institutional investors have also made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new stake in Flagstar Financial in the first quarter worth about $712,000. AE Wealth Management LLC acquired a new stake in Flagstar Financial in the first quarter worth about $216,000. Princeton Capital Management LLC acquired a new stake in Flagstar Financial in the first quarter worth about $128,000. Cetera Investment Advisers acquired a new stake in Flagstar Financial in the first quarter worth about $885,000. Finally, Neo Ivy Capital Management acquired a new stake in Flagstar Financial in the first quarter worth about $2,103,000. 67.88% of the stock is owned by institutional investors.

Flagstar Financial Stock Up 6.8%

Shares of FLG traded up $0.80 on Friday, hitting $12.60. The company's stock had a trading volume of 9,849,729 shares, compared to its average volume of 6,870,787. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm's fifty day moving average price is $11.47 and its 200-day moving average price is $11.64. Flagstar Financial, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -7.64 and a beta of 1.11.

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 (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 business had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. The company's revenue was down 26.1% on a year-over-year basis. On average, equities research analysts expect that Flagstar Financial, Inc. will post -0.31 EPS 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 given a $0.01 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Financial's payout ratio is currently -2.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FLG. Stephens reiterated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. DA Davidson restated a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Citigroup boosted their target price on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Truist Financial decreased their target price on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. decreased their target price on 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 investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $13.22.

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.