Neo Ivy Capital Management Makes New Investment in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Neo Ivy Capital Management acquired 180,950 shares of Flagstar Financial, valued at approximately $2.1 million, during the first quarter, contributing to 67.88% institutional ownership of the stock.
• Recent analyst ratings for Flagstar Financial include a mix of recommendations, with a consensus average price target of $13.22 and ratings ranging from "sell" to "buy."
• Flagstar Financial recently reported a net loss of ($0.14) earnings per share for its last quarter, missing analyst expectations and showing a 26.1% decline in revenue year-over-year.

Neo Ivy Capital Management bought a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 180,950 shares of the company's stock, valued at approximately $2,103,000.

Several other hedge funds have also added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in shares of Flagstar Financial in the 1st quarter worth approximately $885,000. Princeton Capital Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter worth approximately $128,000. AE Wealth Management LLC bought a new position in shares of Flagstar Financial during the 1st quarter worth approximately $216,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Flagstar Financial during the 1st quarter worth approximately $712,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLG has been the topic of a number of research reports. Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Jefferies Financial Group assumed coverage on Flagstar Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price for the company. 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 research report on Tuesday, July 1st. Stephens reaffirmed an "equal weight" rating and issued a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. Finally, Truist Financial decreased their target price on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, July 11th. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial Stock Down 1.2%

FLG stock traded down $0.14 during trading on Monday, reaching $11.25. The stock had a trading volume of 3,446,210 shares, compared to its average volume of 6,421,913. 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 has a market capitalization of $4.67 billion, a price-to-earnings ratio of -6.82 and a beta of 1.10. Flagstar Financial, Inc. has a one year low of $8.56 and a one year high of $13.35. The company's 50 day moving average is $11.49 and its two-hundred day moving average is $11.41.

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 the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The business had revenue of $496.00 million during the quarter, compared to the consensus estimate of $524.33 million. The firm's revenue was down 26.1% compared to the same quarter last year. Equities research analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The business also recently declared 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 0.36%. Flagstar Financial's payout ratio is currently -1.54%.

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.