Investors Research Corp Makes New $233,000 Investment 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 purchased a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,967 shares of the company's stock, valued at approximately $233,000.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Flagstar Financial in the 1st quarter valued at $45,000. Brooklyn Investment Group purchased a new stake in Flagstar Financial during the first quarter valued at about $51,000. Arete Wealth Advisors LLC bought a new position in shares of Flagstar Financial during the first quarter valued at about $94,000. Bayforest Capital Ltd bought a new position in shares of Flagstar Financial during the first quarter valued at about $97,000. Finally, Strs Ohio purchased a new position in shares of Flagstar Financial in the first quarter worth about $102,000. 67.88% of the stock is currently owned by institutional investors.

Flagstar Financial Price Performance

FLG opened at $12.68 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $5.27 billion, a PE ratio of -7.68 and a beta of 1.20. The stock's 50 day moving average price is $11.97 and its 200-day moving average price is $11.65. 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 released its quarterly 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 during the quarter, compared to the consensus estimate of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company's quarterly revenue was down 26.1% compared to the same quarter last year. On average, equities research analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stephens restated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group started coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Flagstar Financial in a research note on Wednesday. They issued an "overweight" rating and a $15.00 target price on the stock. Finally, Truist Financial increased their price target on shares of Flagstar Financial from $12.00 to $13.50 and gave the company a "hold" rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.65.

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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