Sei Investments Co. Buys New Shares in Flagstar Financial, Inc. $FLG

Key Points

• Sei Investments Co. has made a significant investment of $2.01 million in Flagstar Financial, acquiring 173,012 shares during the first quarter.
• Flagstar Financial's recent financial results revealed an EPS loss of ($0.14), which was below the consensus estimate, and a 26.1% decrease in revenue compared to last year.
• The company declared a quarterly dividend of $0.01 per share, translating to an annual yield of 0.3%, with a payout ratio of -2.42%.

Sei Investments Co. bought a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 173,012 shares of the company's stock, valued at approximately $2,010,000.

Other hedge funds also recently made changes to their positions in the company. Bayforest Capital Ltd purchased a new position in Flagstar Financial during the first quarter worth about $97,000. HB Wealth Management LLC bought a new stake in shares of Flagstar Financial in the 1st quarter valued at about $119,000. Keynote Financial Services LLC bought a new stake in shares of Flagstar Financial in the 1st quarter valued at about $122,000. Atlas Capital Advisors Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter valued at about $122,000. Finally, Princeton Capital Management LLC bought a new position in Flagstar Financial during the 1st quarter valued at approximately $128,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLG has been the subject of a number of recent analyst reports. Wall Street Zen lowered 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 note on Thursday, June 12th. Truist Financial lowered their price target on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Jefferies Financial Group began coverage on Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Trading Down 1.9%

Shares of Flagstar Financial stock traded down $0.23 on Thursday, hitting $11.77. 1,412,090 shares of the company traded hands, compared to its average volume of 6,391,202. The stock's 50 day moving average price is $11.43 and its 200-day moving average price is $11.63. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a market cap of $4.89 billion, a PE ratio of -7.13 and a beta of 1.11.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Equities research analysts predict that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be given 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 dividend yield of 0.3%. Flagstar Financial's dividend payout ratio is presently -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.