LPL Financial LLC acquired a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 208,514 shares of the company's stock, valued at approximately $2,423,000. LPL Financial LLC owned 0.05% of Flagstar Financial at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. HB Wealth Management LLC bought a new position in Flagstar Financial in the first quarter worth $119,000. Princeton Capital Management LLC bought a new position in Flagstar Financial in the first quarter worth $128,000. Inspire Advisors LLC bought a new position in Flagstar Financial in the first quarter worth $215,000. AE Wealth Management LLC bought a new position in Flagstar Financial in the first quarter worth $216,000. Finally, Pacer Advisors Inc. bought a new position in Flagstar Financial in the first quarter worth $296,000. 67.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. DA Davidson reaffirmed a "buy" rating and issued a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Stephens reiterated an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. JPMorgan Chase & Co. dropped their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, July 1st. Truist Financial dropped their price objective on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Finally, Citigroup raised their target price on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.22.
Check Out Our Latest Stock Analysis on Flagstar Financial
Flagstar Financial Trading Up 6.0%
Flagstar Financial stock traded up $0.71 during mid-day trading on Friday, hitting $12.51. The stock had a trading volume of 4,331,733 shares, compared to its average volume of 6,400,429. The stock has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $11.63. The stock has a market capitalization of $5.20 billion, a PE ratio of -7.58 and a beta of 1.11. 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 posted its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 10.83% and a negative return on equity of 6.60%. 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 EPS for the current year.
Flagstar Financial Announces Dividend
The company also recently declared 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 annualized dividend and a yield of 0.3%. Flagstar Financial's dividend payout ratio (DPR) is currently -2.42%.
Flagstar Financial Company Profile
(
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.
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