Rhumbline Advisers Invests $10.74 Million in Flagstar Financial, Inc. (NYSE:FLG)

Rhumbline Advisers bought a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 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.

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

Flagstar Financial Stock Performance

Shares of FLG stock traded up $0.13 during trading on Tuesday, hitting $11.98. The company's stock had a trading volume of 4,900,420 shares, compared to its average volume of 6,148,160. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 1.88. The company has a market cap of $4.97 billion, a PE ratio of -3.25 and a beta of 1.13. The business has a fifty day moving average of $11.45 and a 200-day moving average of $11.17. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.03. The business had revenue of $490.00 million for the quarter, compared to analysts' expectations of $511.00 million. Flagstar Financial had a negative return on equity of 10.72% and a negative net margin of 17.16%. The company's quarterly revenue was down 22.6% on a year-over-year basis. As a group, research analysts anticipate that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Saturday, June 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, June 6th. Flagstar Financial's dividend payout ratio is -1.54%.

Analyst Upgrades and Downgrades

FLG has been the topic of several recent research reports. Citigroup raised their price target on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen lowered Flagstar Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Jefferies Financial Group assumed coverage on Flagstar Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $15.00 target price on the stock. Finally, Truist Financial started coverage on Flagstar Financial in a report on Tuesday, May 13th. They set a "hold" rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Flagstar Financial presently has an average rating of "Hold" and an average target price of $13.50.

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.