232,867 Shares in Flagstar Financial, Inc. $FLG Bought by Russell Investments Group Ltd.

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 stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 232,867 shares of the company's stock, valued at approximately $2,706,000. Russell Investments Group Ltd. owned approximately 0.06% of Flagstar Financial as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in shares of Flagstar Financial during the first quarter worth about $211,000. Nuveen LLC acquired a new stake in shares of Flagstar Financial during the first quarter worth about $8,949,000. Aigen Investment Management LP acquired a new stake in shares of Flagstar Financial during the first quarter worth about $440,000. Entropy Technologies LP acquired a new stake in shares of Flagstar Financial during the first quarter worth about $967,000. Finally, Invesco Ltd. acquired a new stake in shares of Flagstar Financial during the first quarter worth about $8,460,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Flagstar Financial Price Performance

Flagstar Financial stock traded up $0.09 during mid-day trading on Friday, reaching $12.87. The company had a trading volume of 1,149,806 shares, compared to its average volume of 6,388,065. Flagstar Financial, Inc. has a 1 year low of $8.56 and a 1 year high of $13.35. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $5.35 billion, a P/E ratio of -7.80 and a beta of 1.11. The stock's 50-day simple moving average is $11.59 and its 200-day simple moving average is $11.65.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The company reported ($0.14) earnings per share 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 analysts' expectations of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.Flagstar Financial's revenue for the quarter was down 26.1% on a year-over-year basis. On average, equities analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 presently -2.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, July 11th. DA Davidson restated a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Stephens restated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. Jefferies Financial Group assumed coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Flagstar Financial presently has a consensus rating of "Hold" and an average price target of $13.33.

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.