Invesco Ltd. Invests $8.46 Million in Flagstar Financial, Inc. $FLG

Key Points

• Invesco Ltd. has acquired approximately 728,059 shares of Flagstar Financial, Inc. worth around $8.46 million, representing 0.18% of the company as of the latest SEC filing.
• Flagstar Financial's quarterly earnings were below expectations with a reported loss of ($0.14) per share, falling short of the consensus estimate of ($0.12).
• Analysts have varied opinions on Flagstar Financial, with four rating it as a "Buy" and five as "Hold," while the average target price stands at $13.22.

Invesco Ltd. acquired a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 728,059 shares of the company's stock, valued at approximately $8,460,000. Invesco Ltd. owned 0.18% of Flagstar Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Bayforest Capital Ltd acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $97,000. HB Wealth Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $119,000. Atlas Capital Advisors Inc. acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $122,000. Keynote Financial Services LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $122,000. Finally, Princeton Capital Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter valued at about $128,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FLG shares. Jefferies Financial Group started coverage on Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price target for the company. Stephens reaffirmed an "equal weight" rating and issued a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Truist Financial reduced their price target on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday, July 11th. DA Davidson reaffirmed a "buy" rating and issued a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. reduced their price target on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Flagstar Financial has an average rating of "Hold" and a consensus target price of $13.33.

Flagstar Financial Price Performance

Shares of Flagstar Financial stock traded up $0.04 during mid-day trading on Friday, reaching $12.82. 3,511,685 shares of the stock traded hands, compared to its average volume of 6,402,295. The business has a 50-day moving average of $11.59 and a 200 day moving average of $11.65. Flagstar Financial, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The stock has a market capitalization of $5.33 billion, a PE ratio of -7.77 and a beta of 1.11. 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 earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The business's quarterly revenue was down 26.1% on a year-over-year basis. On average, analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Dividend Announcement

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

Flagstar Financial 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.