3,381,565 Shares in Flagstar Financial, Inc. $FLG Bought by Northern Trust Corp

Key Points

• Northern Trust Corp has invested approximately $39.29 million in Flagstar Financial, acquiring 3,381,565 shares, which represents 0.81% ownership of the company.
• Flagstar Financial reported a loss of $0.14 EPS in its latest earnings, missing analysts' expectations and showing a 26.1% decline in quarterly revenue year-over-year.
• The company has declared a quarterly dividend of $0.01 per share, resulting in an annualized yield of 0.3%, with the dividend payout ratio standing at -2.42%.

Northern Trust Corp purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,381,565 shares of the company's stock, valued at approximately $39,294,000. Northern Trust Corp owned approximately 0.81% of Flagstar Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLG. Liberty 77 Capital L.P. acquired a new stake in shares of Flagstar Financial in the first quarter valued at approximately $871,500,000. Vanguard Group Inc. acquired a new stake in shares of Flagstar Financial in the first quarter valued at approximately $378,161,000. Charles Schwab Investment Management Inc. acquired a new position in Flagstar Financial during the first quarter valued at approximately $43,009,000. Private Management Group Inc. acquired a new position in Flagstar Financial during the first quarter valued at approximately $35,669,000. Finally, Certuity LLC acquired a new position in Flagstar Financial during the first quarter valued at approximately $24,111,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Financial Price Performance

Shares of NYSE FLG remained flat at $12.83 during midday trading on Wednesday. 3,665,431 shares of the company's stock were exchanged, compared to its average volume of 5,570,053. 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, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The stock has a market capitalization of $5.33 billion, a PE ratio of -7.78 and a beta of 1.20. The company's 50 day moving average price is $11.72 and its 200-day moving average price is $11.65.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $524.33 million. Flagstar Financial's revenue for the quarter was down 26.1% compared to the same quarter last year. On average, equities research analysts anticipate that Flagstar Financial, Inc. will post -0.31 EPS for the current 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 paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Financial's payout ratio is currently -2.42%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FLG shares. JPMorgan Chase & Co. lowered their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Citigroup boosted their price objective on shares of Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, August 26th. Stephens restated an "equal weight" rating and set a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. DA Davidson restated a "buy" rating and set a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Flagstar Financial currently has a consensus rating of "Hold" and an average target price of $13.33.

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.