Sessa Capital IM L.P. Purchases Shares of 32,119 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. bought a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 32,119 shares of the company's stock, valued at approximately $373,000. Flagstar Financial makes up about 0.0% of Sessa Capital IM L.P.'s portfolio, making the stock its 29th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Flagstar Financial during the 1st quarter valued at about $51,000. Bayforest Capital Ltd purchased a new stake in shares of Flagstar Financial during the first quarter worth about $97,000. HB Wealth Management LLC purchased a new stake in shares of Flagstar Financial during the first quarter worth about $119,000. Keynote Financial Services LLC purchased a new stake in shares of Flagstar Financial during the first quarter worth about $122,000. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Flagstar Financial during the first quarter worth about $122,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on FLG shares. JPMorgan Chase & Co. lowered their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Jefferies Financial Group started coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $15.00 price target for the company. Citigroup lifted their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Stephens reiterated an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, Cantor Fitzgerald started coverage on shares of Flagstar Financial in a report on Wednesday. They set an "overweight" rating and a $15.00 price target for the company. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.65.

Flagstar Financial Trading Down 1.0%

Flagstar Financial stock traded down $0.13 during trading on Friday, reaching $12.63. The company had a trading volume of 874,365 shares, compared to its average volume of 6,264,525. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The stock's 50 day moving average price is $11.94 and its two-hundred day moving average price is $11.65. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -7.65 and a beta of 1.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02.

Flagstar Financial (NYSE:FLG - Get Free Report) last released its earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. The business's revenue for the quarter was down 26.1% compared to the same quarter last year. As a group, equities analysts expect that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal 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 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%.

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.