Hennessy Advisors Inc. Buys New Position in Flagstar Financial, Inc. $FLG

Key Points

• Hennessy Advisors Inc. purchased a new stake in Flagstar Financial, buying 262,000 shares valued at approximately $2.77 million in the second quarter, representing 0.06% of the company.
• Flagstar Financial's stock is currently trading at $12.02, with an average target analyst price of $13.71 and ratings ranging from "Buy" to "Sell" from various equity analysts.
• The company reported a loss of $0.14 EPS in its last earnings results, missing expectations and showing a revenue decline of 26.1% year-over-year.

Hennessy Advisors Inc. bought a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 262,000 shares of the company's stock, valued at approximately $2,777,000. Hennessy Advisors Inc. owned 0.06% of Flagstar Financial as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. acquired a new stake in shares of Flagstar Financial in the 2nd quarter valued at about $33,000. Marquette Asset Management LLC acquired a new stake in shares of Flagstar Financial in the 2nd quarter valued at about $35,000. American National Bank & Trust acquired a new stake in shares of Flagstar Financial in the 2nd quarter valued at about $41,000. Geneos Wealth Management Inc. acquired a new stake in shares of Flagstar Financial in the 1st quarter valued at about $45,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Flagstar Financial in the 2nd quarter valued at about $43,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLG has been the subject of a number of research analyst reports. DA Davidson reissued a "buy" rating and issued a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Cantor Fitzgerald assumed coverage on Flagstar Financial in a research note on Wednesday, September 10th. They set an "overweight" rating and a $15.00 price objective for the company. JPMorgan Chase & Co. reduced 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. Stephens reaffirmed an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, Morgan Stanley set a $14.00 price objective on Flagstar Financial and gave the company an "underperform" rating in a research note on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.71.

Flagstar Financial Stock Performance

Shares of FLG stock opened at $12.02 on Friday. The company has a market cap of $4.99 billion, a price-to-earnings ratio of -7.28 and a beta of 1.17. The stock has a 50 day simple moving average of $12.07 and a 200-day simple moving average of $11.67. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. 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 (NYSE:FLG - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The business had revenue of $496.00 million for the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.Flagstar Financial'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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, September 5th. Flagstar Financial's dividend payout ratio is -2.42%.

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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