Round Hill Asset Management Acquires Shares of 144,696 Flagstar Financial, Inc. $FLG

Key Points

• Round Hill Asset Management invested approximately $1.68 million in Flagstar Financial, Inc., acquiring 144,696 shares in the company, which represents about 1.2% of Round Hill's portfolio.
• Flagstar Financial reported a loss of ($0.14) earnings per share in its latest quarterly report, missing analyst estimates, with revenue down 26.1% from the same quarter last year.
• The company declared a quarterly dividend of $0.01 per share, with a predicted annual dividend yield of 0.3%, although its current payout ratio stands at -2.42%.

Round Hill Asset Management bought 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 Form 13F filing with the SEC. The firm bought 144,696 shares of the company's stock, valued at approximately $1,681,000. Flagstar Financial makes up approximately 1.2% of Round Hill Asset Management's portfolio, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bayforest Capital Ltd acquired a new stake in shares of Flagstar Financial during the 1st quarter worth about $97,000. HB Wealth Management LLC purchased a new position in Flagstar Financial during the 1st quarter worth approximately $119,000. Atlas Capital Advisors Inc. purchased a new position in Flagstar Financial during the 1st quarter worth approximately $122,000. Keynote Financial Services LLC purchased a new position in Flagstar Financial during the 1st quarter worth approximately $122,000. Finally, Princeton Capital Management LLC purchased a new position in Flagstar Financial during the 1st quarter worth approximately $128,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Analyst Ratings Changes

FLG has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Citigroup raised their price target on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group initiated coverage on Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price on the stock. Truist Financial lowered their target price on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Finally, Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.22.

Flagstar Financial Price Performance

FLG stock traded up $0.62 during midday trading on Friday, hitting $12.42. 2,959,823 shares of the stock were exchanged, compared to its average volume of 6,393,364. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of -7.53 and a beta of 1.11. Flagstar Financial, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The stock's 50-day moving average price is $11.43 and its 200-day moving average price is $11.63.

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). The business 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 company's quarterly revenue was down 26.1% compared to the same quarter last year. Research analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 5th. Flagstar Financial's payout ratio is -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.