Russell Investments Group Ltd. Invests $2.71 Million in Flagstar Financial, Inc. $FLG

Key Points

• Russell Investments Group Ltd. has acquired a new stake in Flagstar Financial, purchasing 232,867 shares valued at approximately $2.71 million, representing about 0.06% of the company.
• Flagstar Financial reported a loss of $0.14 earnings per share for the last quarter, missing estimates, and experienced a 26.1% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.01 per share, with a dividend yield of 0.3%, scheduled for payment to stockholders of record on September 7th.

Russell Investments Group Ltd. purchased a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 232,867 shares of the company's stock, valued at approximately $2,706,000. Russell Investments Group Ltd. owned about 0.06% of Flagstar Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC purchased a new position in shares of Flagstar Financial in the 1st quarter worth $211,000. Nuveen LLC purchased a new position in shares of Flagstar Financial in the 1st quarter worth $8,949,000. Aigen Investment Management LP purchased a new position in shares of Flagstar Financial in the 1st quarter worth $440,000. Entropy Technologies LP purchased a new position in shares of Flagstar Financial in the 1st quarter worth $967,000. Finally, Invesco Ltd. purchased a new position in shares of Flagstar Financial in the 1st quarter worth $8,460,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Flagstar Financial Price Performance

NYSE:FLG traded up $0.04 on Friday, reaching $12.82. 3,511,685 shares of the company's stock traded hands, compared to its average volume of 6,036,632. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a 50-day simple moving average of $11.62 and a 200-day simple moving average of $11.64. The firm has a market cap of $5.33 billion, a PE ratio of -7.77 and a beta of 1.11. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35.

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 business had revenue of $496.00 million for 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%. Flagstar Financial's revenue was down 26.1% compared to the same quarter last year. Equities research analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Financial's dividend payout ratio (DPR) is currently -2.42%.

Analysts Set New Price Targets

FLG has been the topic of several analyst reports. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stephens reiterated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. Jefferies Financial Group initiated 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. 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 report on Friday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Flagstar Financial currently has a consensus rating of "Hold" and an average target price of $13.33.

About Flagstar Financial

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.