Investors Research Corp Invests $233,000 in Flagstar Financial, Inc. $FLG

Key Points

• Investors Research Corp has made a new investment in Flagstar Financial, Inc. worth $233,000 by purchasing 21,967 shares during the 2nd quarter.
• Flagstar Financial reported a quarterly loss with earnings per share of ($0.14), missing expectations and showing a 26.1% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.01 per share, with an upcoming payment date on September 17th.

Investors Research Corp bought a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,967 shares of the company's stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. bought a new position in Flagstar Financial in the first quarter worth $45,000. Brooklyn Investment Group bought a new position in Flagstar Financial in the first quarter worth $51,000. Arete Wealth Advisors LLC bought a new position in Flagstar Financial in the first quarter worth $94,000. Bayforest Capital Ltd bought a new position in Flagstar Financial in the first quarter worth $97,000. Finally, Strs Ohio bought a new position in shares of Flagstar Financial during the first quarter valued at $102,000. 67.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen cut Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Stephens reissued an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a report on Thursday, June 12th. Cantor Fitzgerald assumed coverage on Flagstar Financial in a report on Wednesday, September 10th. They set an "overweight" rating and a $15.00 price objective for the company. Citigroup lifted their price objective on Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a report on Tuesday, August 26th. Finally, DA Davidson reissued a "buy" rating and set a $14.50 price objective on shares of Flagstar Financial in a report on Thursday, June 26th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Flagstar Financial has an average rating of "Moderate Buy" and an average price target of $13.65.

Flagstar Financial Price Performance

Shares of NYSE:FLG traded down $0.27 during midday trading on Friday, reaching $12.14. The company's stock had a trading volume of 2,865,418 shares, compared to its average volume of 6,227,419. Flagstar Financial, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The company has a market capitalization of $5.05 billion, a P/E ratio of -7.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The business's fifty day simple moving average is $12.05 and its 200-day simple moving average is $11.67.

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

Flagstar Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th were 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 was Friday, September 5th. Flagstar Financial's payout ratio 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.