Gagnon Securities LLC Buys New Shares 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) in the first quarter, according to its most recent filing with the SEC. The firm bought 104,727 shares of the company's stock, valued at approximately $1,217,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bayforest Capital Ltd acquired a new stake in shares of Flagstar Financial during the 1st quarter worth about $97,000. HB Wealth Management LLC acquired a new position in shares of Flagstar Financial in the first quarter valued at approximately $119,000. Keynote Financial Services LLC acquired a new position in Flagstar Financial during the first quarter worth $122,000. Princeton Capital Management LLC purchased a new stake in Flagstar Financial during the first quarter worth $128,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Flagstar Financial in the first quarter valued at $131,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Citigroup boosted their price target on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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. Finally, DA Davidson reaffirmed a "buy" rating and set a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Flagstar Financial presently has an average rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Stock Down 0.2%

Shares of FLG traded down $0.02 during trading hours on Monday, reaching $11.54. 2,060,207 shares of the stock traded hands, compared to its average volume of 6,456,517. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -6.99 and a beta of 1.11. The stock has a fifty day simple moving average of $11.38 and a 200 day simple moving average of $11.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted 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). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. The company had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. The firm's revenue for the quarter was down 26.1% on a year-over-year basis. On average, equities analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders 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 dividend yield of 0.3%. Flagstar Financial's 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.