PNC Financial Services Group Inc. Takes Position in Flagstar Financial, Inc. $FLG

Key Points

• PNC Financial Services Group Inc. made a new investment in Flagstar Financial, purchasing 24,799 shares valued at approximately $288,000.
• Flagstar Financial reported a quarterly earnings per share (EPS) of ($0.14), missing analyst estimates and showing a significant revenue decline of 26.1% year-over-year.
• The company has declared a quarterly dividend of $0.01 per share, reflecting an annualized yield of 0.3%.

PNC Financial Services Group Inc. bought a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,799 shares of the company's stock, valued at approximately $288,000.

Several other large investors have also recently bought and sold shares of the company. Bayforest Capital Ltd bought a new position in Flagstar Financial in the first quarter valued at about $97,000. HB Wealth Management LLC bought a new position in Flagstar Financial in the first quarter valued at about $119,000. Princeton Capital Management LLC bought a new position in Flagstar Financial in the first quarter valued at about $128,000. Wellington Shields & Co. LLC bought a new position in Flagstar Financial in the first quarter valued at about $131,000. Finally, Moors & Cabot Inc. bought a new position in Flagstar Financial in the first quarter valued at about $162,000. 67.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FLG has been the subject of several research reports. Stephens reiterated an "equal weight" rating and issued a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. Citigroup increased their target price on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. Jefferies Financial Group began coverage on Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective for the company. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, 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. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Flagstar Financial presently has an average rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial Trading Down 0.2%

Shares of NYSE:FLG traded down $0.03 during mid-day trading on Wednesday, hitting $12.05. The company had a trading volume of 1,753,936 shares, compared to its average volume of 6,391,795. The firm has a fifty day moving average price of $11.42 and a 200 day moving average price of $11.63. The company has a market capitalization of $5.01 billion, a PE ratio of -7.30 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. Flagstar Financial, Inc. has a one year low of $8.56 and a one year high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last released 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). The company had revenue of $496.00 million during the quarter, compared to the consensus estimate of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company's quarterly revenue was down 26.1% on a year-over-year basis. As a group, research analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

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 issued a dividend of $0.01 per share. The ex-dividend date 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%.

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.