Hourglass Capital LLC Takes $698,000 Position in Flagstar Financial, Inc. $FLG

Key Points

• Hourglass Capital LLC has acquired a new stake in Flagstar Financial, Inc. amounting to $698,000, purchasing 65,833 shares during the second quarter.
• Analyst ratings for FLG are mixed, with five analysts giving it a Buy rating and six a Hold rating, leading to a consensus target price of $13.71.
• Flagstar Financial has recently declared a quarterly dividend of $0.01 per share, reflecting an annualized yield of 0.3%.

Hourglass Capital LLC bought a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 65,833 shares of the company's stock, valued at approximately $698,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Inspire Investing LLC bought a new position in Flagstar Financial during the first quarter worth $422,000. Mendon Capital Advisors Corp bought a new position in Flagstar Financial during the first quarter worth $2,403,000. Mutual of America Capital Management LLC bought a new position in Flagstar Financial during the first quarter worth $1,814,000. Liberty 77 Capital L.P. bought a new position in Flagstar Financial during the first quarter worth $871,500,000. Finally, Comerica Bank bought a new position in Flagstar Financial during the first quarter worth $990,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLG has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on Flagstar Financial in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $15.00 target price on the stock. Morgan Stanley set a $14.00 target price on Flagstar Financial and gave the company an "underperform" rating in a research note on Monday, September 29th. DA Davidson reiterated a "buy" rating and issued a $14.50 target price on shares of Flagstar Financial in a research note on Thursday, June 26th. TD Cowen started coverage on shares of Flagstar Financial in a research note on Thursday, September 25th. They set a "hold" rating and a $14.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of Flagstar Financial from $12.00 to $13.50 and gave the company a "hold" rating in a research note on Friday, September 12th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.71.

Flagstar Financial Price Performance

NYSE:FLG opened at $11.92 on Thursday. The business's 50-day moving average price is $12.16 and its 200 day moving average price is $11.66. The firm has a market cap of $4.95 billion, a P/E ratio of -7.22 and a beta of 1.17. Flagstar Financial, Inc. has a 52-week low of $8.56 and a 52-week high of $13.35. 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 issued its quarterly earnings results on Wednesday, January 26th. The company reported $0.27 earnings per share for the quarter. The firm had revenue of $287.00 million for the quarter. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. As a group, sell-side analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

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

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