Legacy Capital Group California Inc. purchased a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25,707 shares of the company's stock, valued at approximately $299,000.
Several other institutional investors have also recently bought and sold shares of FLG. Bayforest Capital Ltd bought a new position in Flagstar Financial in the 1st quarter worth approximately $97,000. HB Wealth Management LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter valued at $119,000. Princeton Capital Management LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter valued at $128,000. Wellington Shields & Co. LLC bought a new stake in shares of Flagstar Financial during the first quarter worth $131,000. Finally, R Squared Ltd acquired a new position in shares of Flagstar Financial during the first quarter valued at $131,000. Institutional investors own 67.88% of the company's stock.
Flagstar Financial Trading Up 0.8%
Shares of NYSE FLG opened at $11.28 on Thursday. Flagstar Financial, Inc. has a twelve month low of $8.56 and a twelve month high of $13.35. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -6.84 and a beta of 1.11. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The company's fifty day moving average is $11.39 and its 200-day moving average is $11.50.
Flagstar Financial (NYSE:FLG - Get Free Report) last posted its 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). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. The business had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. The company's revenue was down 26.1% compared to the same quarter last year. Equities research analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.
Flagstar Financial Announces Dividend
The firm also recently announced 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 5th. Flagstar Financial's dividend payout ratio is presently -2.42%.
Analysts Set New Price Targets
A number of analysts recently commented on FLG shares. Wall Street Zen lowered Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Truist Financial dropped their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective on the stock. Stephens reiterated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. Finally, DA Davidson reissued a "buy" rating and issued a $14.50 price target on shares of Flagstar Financial in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.22.
Check Out Our Latest Research Report on FLG
Flagstar Financial Company Profile
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Free Report)
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.
Further Reading
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