LaSalle St. Investment Advisors LLC Takes $280,000 Position in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• LaSalle St. Investment Advisors LLC acquired 24,172 shares of Flagstar Financial, valued at approximately $280,000, highlighting increased institutional interest in the company during Q1 2023.
• Flagstar Financial reported a quarterly EPS of ($0.14), missing the consensus estimate of ($0.12), with a significant 26.1% decline in revenue compared to the previous year.
• The company has declared a quarterly dividend of $0.01 per share, with a dividend yield of 0.3%, set to be paid on September 17th.

LaSalle St. Investment Advisors LLC purchased a new stake in 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. The firm purchased 24,172 shares of the company's stock, valued at approximately $280,000.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. purchased a new stake in Flagstar Financial in the 1st quarter worth about $378,161,000. Charles Schwab Investment Management Inc. purchased a new stake in Flagstar Financial in the 1st quarter worth about $43,009,000. Private Management Group Inc. purchased a new stake in Flagstar Financial in the 1st quarter worth about $35,669,000. Federated Hermes Inc. purchased a new position in Flagstar Financial during the 1st quarter valued at about $11,449,000. Finally, Swiss National Bank purchased a new position in Flagstar Financial during the 1st quarter valued at about $7,009,000. Institutional investors own 67.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday, July 11th. Stephens restated an "equal weight" rating and issued a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. 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. Citigroup raised their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. decreased their target price on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial Stock Performance

NYSE:FLG traded up $0.21 during mid-day trading on Wednesday, reaching $11.98. The company's stock had a trading volume of 1,872,089 shares, compared to its average volume of 6,438,018. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The firm's fifty day moving average price is $11.39 and its two-hundred day moving average price is $11.57. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market cap of $4.98 billion, a P/E ratio of -7.26 and a beta of 1.11.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $496.00 million for 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 business's quarterly revenue was down 26.1% on a year-over-year basis. On average, equities analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Announces Dividend

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