924,428 Shares in Flagstar Financial, Inc. (NYSE:FLG) Acquired by Rhumbline Advisers

Rhumbline Advisers purchased a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 924,428 shares of the company's stock, valued at approximately $10,742,000. Rhumbline Advisers owned 0.22% of Flagstar Financial at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLG. Geneos Wealth Management Inc. acquired a new position in shares of Flagstar Financial in the 1st quarter valued at approximately $45,000. Brooklyn Investment Group bought a new stake in shares of Flagstar Financial in the first quarter worth $51,000. Arete Wealth Advisors LLC acquired a new stake in Flagstar Financial in the first quarter valued at $94,000. Bayforest Capital Ltd bought a new position in Flagstar Financial during the 1st quarter valued at $97,000. Finally, Strs Ohio bought a new position in Flagstar Financial during the 1st quarter valued at $102,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Flagstar Financial Stock Performance

Shares of NYSE:FLG traded down $0.37 during trading on Friday, hitting $11.03. 6,067,452 shares of the company traded hands, compared to its average volume of 6,135,391. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 1.88. The business's fifty day moving average is $11.51 and its 200-day moving average is $11.17. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of -2.99 and a beta of 1.13. 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, April 25th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.03. The business had revenue of $490.00 million during the quarter, compared to analyst estimates of $511.00 million. Flagstar Financial had a negative return on equity of 10.72% and a negative net margin of 17.16%. The business's quarterly revenue was down 22.6% compared to the same quarter last year. As a group, equities analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Saturday, June 7th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Friday, June 6th. Flagstar Financial's payout ratio is -1.54%.

Analyst Upgrades and Downgrades

FLG has been the subject of several research analyst reports. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price for the company. Wall Street Zen lowered Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Stephens reaffirmed an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a report on Thursday. Citigroup lifted their target price on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Truist Financial started coverage on Flagstar Financial in a report on Tuesday, May 13th. They issued a "hold" rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Flagstar Financial currently has a consensus rating of "Hold" and an average price target of $13.39.

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.