KLP Kapitalforvaltning AS Invests $712,000 in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• KLP Kapitalforvaltning AS has acquired 61,313 shares of Flagstar Financial, valued at approximately $712,000, marking a new position in the company during the first quarter.
• Analyst ratings reveal mixed sentiments about Flagstar Financial, with targets ranging from $12.00 to $15.50 and a current average rating of "Hold."
• Flagstar Financial reported a loss of $0.14 per share for the last quarter, missing estimates, with a year-over-year revenue decline of 26.1%.

KLP Kapitalforvaltning AS purchased a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,313 shares of the company's stock, valued at approximately $712,000.

Flagstar Financial Trading Down 0.9%

FLG stock traded down $0.10 during trading on Friday, reaching $11.19. The company had a trading volume of 7,635,948 shares, compared to its average volume of 6,655,917. The business has a 50 day moving average of $11.43 and a 200 day moving average of $11.45. 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 company has a market cap of $4.64 billion, a P/E ratio of -6.78 and a beta of 1.11. 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 posted its quarterly earnings data 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 firm had revenue of $496.00 million during the quarter, compared to the consensus estimate 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, sell-side analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

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 paid a $0.01 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. Flagstar Financial's dividend payout ratio is presently -2.42%.

Analysts Set New Price Targets

Several research firms have issued reports on FLG. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. 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. Truist Financial decreased their price target on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Jefferies Financial Group assumed coverage on Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective for the company. Finally, Citigroup lifted their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.22.

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.