Kovitz Investment Group Partners LLC Makes New $807,000 Investment in Flagstar Financial, Inc. $FLG

Key Points

• Kovitz Investment Group Partners LLC invested approximately $807,000 in Flagstar Financial, acquiring 69,442 shares in the first quarter of the year.
• Analysts have varied opinions on Flagstar Financial's stock, with four rating it as a buy and five as hold, resulting in a consensus rating of "Hold" and an average price target of $13.22.
• Flagstar Financial recently announced a quarterly dividend of $0.01 per share, which translates to an annual yield of 0.3% and a negative payout ratio of -2.42%.

Kovitz Investment Group Partners LLC bought a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 69,442 shares of the company's stock, valued at approximately $807,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new stake in Flagstar Financial during the first quarter worth $97,000. HB Wealth Management LLC acquired a new stake in Flagstar Financial during the first quarter worth $119,000. Atlas Capital Advisors Inc. acquired a new stake in Flagstar Financial during the first quarter worth $122,000. Keynote Financial Services LLC acquired a new stake in Flagstar Financial during the first quarter worth $122,000. Finally, Princeton Capital Management LLC acquired a new stake in Flagstar Financial during the first quarter worth $128,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FLG shares. Jefferies Financial Group started coverage on Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price for the company. Wall Street Zen lowered 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 price target on shares of Flagstar Financial in a research report on Thursday, June 12th. Citigroup raised their price target on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their price target on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $13.22.

Flagstar Financial Trading Down 0.6%

NYSE:FLG opened at $12.01 on Thursday. The firm has a market cap of $4.99 billion, a PE ratio of -7.28 and a beta of 1.11. The stock has a fifty day moving average price of $11.43 and a 200 day moving average price of $11.63. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results 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 company had revenue of $496.00 million during the quarter, compared to analysts' expectations 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 revenue was down 26.1% compared to the same quarter last year. Sell-side analysts anticipate that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be issued a $0.01 dividend. The ex-dividend date is 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 -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.

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