Sessa Capital IM L.P. Acquires New Position in Flagstar Financial, Inc. $FLG

Key Points

• Sessa Capital IM L.P. recently acquired 32,119 shares of Flagstar Financial, valued at approximately $373,000, making it the fund's 29th largest position.
• Flagstar Financial reported a loss per share of ($0.14) in its latest earnings, missing estimates and showing a 26.1% year-over-year revenue decline.
• The company is set to pay a quarterly dividend of $0.01 per share, with a dividend yield of 0.3%.

Sessa Capital IM L.P. acquired a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,119 shares of the company's stock, valued at approximately $373,000. Flagstar Financial comprises 0.0% of Sessa Capital IM L.P.'s holdings, making the stock its 29th largest position.

A number of other large investors also recently modified their holdings of the business. Brooklyn Investment Group acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $51,000. Bayforest Capital Ltd acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $97,000. HB Wealth Management LLC acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $119,000. Atlas Capital Advisors Inc. acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $122,000. Finally, Keynote Financial Services LLC acquired a new position in shares of Flagstar Financial during the 1st quarter worth about $122,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLG has been the subject of several recent analyst reports. DA Davidson reiterated a "buy" rating and issued a $14.50 target price on shares of Flagstar Financial in a research note on Thursday, June 26th. Jefferies Financial Group initiated coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 target price for the company. Truist Financial cut their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Stephens reiterated an "equal weight" rating and issued a $12.50 target price on shares of Flagstar Financial in a research note on Thursday, June 12th. Finally, Wall Street Zen downgraded shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.50.

Flagstar Financial Stock Performance

Shares of FLG traded up $0.13 during mid-day trading on Thursday, hitting $12.75. 3,231,496 shares of the company's stock were exchanged, compared to its average volume of 6,286,235. Flagstar Financial, Inc. has a 52 week low of $8.56 and a 52 week high of $13.35. The stock's 50-day simple moving average is $11.91 and its 200-day simple moving average is $11.65. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of -7.73 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced 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). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The business had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. The firm's revenue was down 26.1% compared to the same quarter last year. On average, equities research analysts expect that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be paid a $0.01 dividend. 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 dividend payout ratio (DPR) is -2.42%.

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.