TD Asset Management Inc Invests $702,000 in Flagstar Financial, Inc. $FLG

Key Points

• TD Asset Management Inc invested $702,000 in Flagstar Financial, acquiring 66,194 shares during the second quarter, indicating growing interest from institutional investors.
• Wall Street analysts have varying opinions on Flagstar Financial, with five buy ratings, six hold ratings, and two sell ratings, leading to an average target price of $13.71.
• Flagstar Financial recently declared a $0.01 quarterly dividend, representing an annualized yield of 0.3%, though the company currently has a negative dividend payout ratio.

TD Asset Management Inc acquired a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 66,194 shares of the company's stock, valued at approximately $702,000.

A number of other hedge funds also recently bought and sold shares of FLG. CWM LLC bought a new stake in Flagstar Financial in the 2nd quarter worth approximately $28,000. UMB Bank n.a. bought a new stake in Flagstar Financial in the 2nd quarter worth approximately $33,000. Marquette Asset Management LLC bought a new stake in Flagstar Financial in the 2nd quarter worth approximately $35,000. American National Bank & Trust bought a new stake in Flagstar Financial in the 2nd quarter worth approximately $41,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Flagstar Financial in the 2nd quarter worth approximately $43,000. Institutional investors own 67.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Truist Financial boosted their target price on Flagstar Financial from $12.00 to $13.50 and gave the stock a "hold" rating in a research report on Friday, September 12th. Citigroup boosted their target price on Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Morgan Stanley set a $14.00 target price on Flagstar Financial and gave the stock an "underperform" rating in a research report on Monday, September 29th. DA Davidson reiterated a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Flagstar Financial in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Flagstar Financial currently has an average rating of "Hold" and a consensus target price of $13.71.

Flagstar Financial Stock Performance

Shares of FLG stock opened at $11.51 on Thursday. 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, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The stock has a 50 day moving average price of $12.13 and a two-hundred day moving average price of $11.67. The company has a market capitalization of $4.78 billion, a P/E ratio of -6.97 and a beta of 1.17.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 26th. The company reported $0.27 earnings per share for the quarter. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The firm had revenue of $287.00 million during the quarter. Analysts expect that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Sunday, September 7th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 5th. 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.

Want to see what other hedge funds are holding FLG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flagstar Financial, Inc. (NYSE:FLG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.