Swiss National Bank Takes $7.01 Million Position in Flagstar Financial, Inc. $FLG

Swiss National Bank bought a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 603,202 shares of the company's stock, valued at approximately $7,009,000. Swiss National Bank owned 0.15% of Flagstar Financial as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter worth approximately $378,161,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter worth approximately $43,009,000. Private Management Group Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter worth approximately $35,669,000. Federated Hermes Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter worth approximately $11,449,000. Finally, Deutsche Bank AG bought a new stake in shares of Flagstar Financial in the 1st quarter worth approximately $4,334,000. Institutional investors own 67.88% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLG. JPMorgan Chase & Co. reduced their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, July 1st. Citigroup raised their price objective on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Truist Financial reduced their price objective on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group began coverage on Flagstar Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Price Performance

Shares of FLG traded up $0.50 during mid-day trading on Friday, reaching $12.30. The company had a trading volume of 1,565,293 shares, compared to its average volume of 6,384,288. Flagstar Financial, Inc. has a twelve month low of $8.56 and a twelve month 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's 50-day moving average is $11.43 and its 200-day moving average is $11.63. The company has a market capitalization of $5.11 billion, a P/E ratio of -7.45 and a beta of 1.11.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued 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 return on equity of 6.60% and a negative net margin of 10.83%.The company had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial's revenue was down 26.1% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Sunday, September 7th will be issued 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 dividend payout ratio (DPR) is currently -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.