Nuveen LLC Buys New Position 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 bought a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 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 filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FLG. 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 stake in shares of Flagstar Financial in the first quarter valued at approximately $43,009,000. Private Management Group Inc. acquired a new stake in shares of Flagstar Financial in the first quarter valued at approximately $35,669,000. Federated Hermes Inc. acquired a new stake in shares of Flagstar Financial in the first quarter valued at approximately $11,449,000. Finally, Invesco Ltd. acquired a new position in Flagstar Financial during the first quarter worth $8,460,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLG has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. DA Davidson restated a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a report on Thursday, June 26th. Jefferies Financial Group initiated coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price on the stock. Citigroup boosted their target price on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced 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. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.33.

Flagstar Financial Price Performance

FLG stock traded up $0.04 during midday trading on Friday, reaching $12.82. The company had a trading volume of 3,511,685 shares, compared to its average volume of 6,036,632. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of -7.77 and a beta of 1.11. The stock has a 50 day moving average price of $11.62 and a 200-day moving average price of $11.65. Flagstar Financial, Inc. has a 1-year low of $8.56 and a 1-year high of $13.35. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted its quarterly 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 analyst estimates of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The firm's revenue was down 26.1% compared to the same quarter last year. Equities research analysts expect 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. Stockholders 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 dividend payout ratio is currently -2.42%.

Flagstar Financial 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.