New Age Alpha Advisors LLC Buys New Position in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• New Age Alpha Advisors LLC acquired 43,838 shares of Flagstar Financial, valued at approximately $509,000, during the first quarter.
• Flagstar Financial's recent quarterly earnings reflected a loss of ($0.14) per share, missing analysts' consensus estimates, and its revenue declined by 26.1% year-over-year.
• A quarterly dividend of $0.01 has been declared, with a yield of 0.3%, scheduled for payment on September 17th.

New Age Alpha Advisors LLC bought a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 43,838 shares of the company's stock, valued at approximately $509,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLG. KLP Kapitalforvaltning AS bought a new stake in Flagstar Financial during the 1st quarter valued at approximately $712,000. AE Wealth Management LLC bought a new stake in Flagstar Financial during the 1st quarter valued at approximately $216,000. Princeton Capital Management LLC bought a new stake in Flagstar Financial during the 1st quarter valued at approximately $128,000. Cetera Investment Advisers bought a new stake in Flagstar Financial during the 1st quarter valued at approximately $885,000. Finally, Neo Ivy Capital Management purchased a new position in Flagstar Financial during the 1st quarter valued at approximately $2,103,000. Institutional investors own 67.88% of the company's stock.

Flagstar Financial Trading Up 1.7%

Shares of Flagstar Financial stock traded up $0.20 on Wednesday, reaching $11.97. The company had a trading volume of 1,232,704 shares, compared to its average volume of 6,434,325. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -7.25 and a beta of 1.11. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The firm's 50-day moving average price is $11.39 and its two-hundred day moving average price is $11.57. Flagstar Financial, Inc. has a 1 year low of $8.56 and a 1 year high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The company had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. The company's revenue for the quarter was down 26.1% on a year-over-year basis. As a group, research analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be issued 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 yield of 0.3%. Flagstar Financial's payout ratio is presently -2.42%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their price target on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday, July 11th. Citigroup raised their price target on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Jefferies Financial Group assumed coverage on Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target for the company. Stephens restated an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, DA Davidson restated a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.22.

About Flagstar Financial

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.