MetLife Investment Management LLC Acquires Shares of 307,392 Flagstar Financial, Inc. $FLG

Key Points

• MetLife Investment Management LLC has acquired 307,392 shares of Flagstar Financial, Inc. valued at approximately $3,572,000, representing about 0.07% of the company's stock.
• Flagstar Financial reported an earnings miss with a net loss of ($0.14) EPS for the last quarter and a decline in revenue by 26.1% year-over-year.
• The company recently announced a quarterly dividend of $0.01 per share, reflecting an annualized yield of 0.3%, with the ex-dividend date set for September 5th.

MetLife Investment Management LLC acquired a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 307,392 shares of the company's stock, valued at approximately $3,572,000. MetLife Investment Management LLC owned approximately 0.07% of Flagstar Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLG. KLP Kapitalforvaltning AS purchased a new position in Flagstar Financial during the first quarter valued at $712,000. AE Wealth Management LLC purchased a new position in Flagstar Financial during the first quarter valued at $216,000. Princeton Capital Management LLC purchased a new position in Flagstar Financial during the first quarter valued at $128,000. Cetera Investment Advisers purchased a new position in Flagstar Financial during the first quarter valued at $885,000. Finally, Neo Ivy Capital Management purchased a new position in Flagstar Financial during the first quarter valued at $2,103,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. JPMorgan Chase & Co. decreased their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. 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. Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Stephens reissued an "equal weight" rating and issued a $12.50 price target on shares of Flagstar Financial in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.33.

Flagstar Financial Price Performance

Flagstar Financial stock opened at $12.82 on Friday. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The stock has a market cap of $5.33 billion, a P/E ratio of -7.77 and a beta of 1.11. The company has a 50-day moving average price of $11.62 and a 200 day moving average price of $11.64. 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 quarterly earnings data 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). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The firm had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. The business's quarterly 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 year.

Flagstar Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial's dividend payout ratio (DPR) is presently -2.42%.

Flagstar Financial Company 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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