Nuveen LLC Invests $8.95 Million in Flagstar Financial, Inc. $FLG

Key Points

• Nuveen LLC has acquired a new position in Flagstar Financial, purchasing 770,171 shares valued at approximately $8.9 million, representing 0.19% of the company.
• Flagstar Financial's shares have received mixed ratings, with a consensus target price of $13.22 and four analysts rating it as a Buy while five rated it as Hold.
• The company recently reported a negative earnings per share (EPS) of ($0.14), missing estimates and showing a 26.1% year-over-year revenue decline.

Nuveen LLC acquired a new position 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 firm acquired 770,171 shares of the company's stock, valued at approximately $8,949,000. Nuveen LLC owned 0.19% of Flagstar Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $1,814,000. PNC Financial Services Group Inc. acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $288,000. LPL Financial LLC acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $2,423,000. Jefferies Financial Group Inc. acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $837,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $2,103,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Financial Stock Up 0.6%

NYSE FLG traded up $0.08 during trading on Friday, hitting $12.86. The stock had a trading volume of 361,995 shares, compared to its average volume of 6,383,802. The company has a market capitalization of $5.34 billion, a PE ratio of -7.79 and a beta of 1.11. The company's 50-day moving average price is $11.59 and its two-hundred day moving average price is $11.65. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) 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 firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $524.33 million. The business's revenue for the quarter was down 26.1% on a year-over-year basis. 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 firm also recently declared 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial's dividend payout ratio is -2.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group initiated coverage on Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price for the company. Truist Financial decreased their price objective 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. Stephens reiterated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. Citigroup boosted their price objective on Flagstar Financial from $15.50 to $16.50 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently 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.