Gagnon Securities LLC Acquires New Position in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Gagnon Securities LLC acquired a new position in Flagstar Financial, purchasing 104,727 shares valued at approximately $1.2 million in the first quarter of the year.
• Flagstar Financial is experiencing a challenging financial period, reporting a loss of ($0.14) earnings per share for the last quarter, missing analysts' expectations by $0.02.
• Institutional investors currently hold 67.88% of Flagstar Financial's stock, indicating strong interest from hedge funds and other large entities.

Gagnon Securities LLC bought a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 104,727 shares of the company's stock, valued at approximately $1,217,000.

Other hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd acquired a new stake in Flagstar Financial in the first quarter worth $97,000. HB Wealth Management LLC acquired a new stake in Flagstar Financial in the first quarter worth $119,000. Keynote Financial Services LLC acquired a new stake in Flagstar Financial in the first quarter worth $122,000. Princeton Capital Management LLC acquired a new stake in Flagstar Financial in the first quarter worth $128,000. Finally, Wellington Shields & Co. LLC acquired a new stake in Flagstar Financial in the first quarter worth $131,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLG. 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. Citigroup raised their price objective on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. 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. Jefferies Financial Group started coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Stephens restated an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Trading Up 0.8%

Shares of NYSE:FLG opened at $11.28 on Thursday. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -6.84 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. The company's fifty day simple moving average is $11.39 and its 200 day simple moving average is $11.50. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The business had revenue of $496.00 million during 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 firm's quarterly revenue was down 26.1% compared to the same quarter last year. As a group, research analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Flagstar Financial's dividend payout ratio (DPR) 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.

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