Townsquare Capital LLC Invests $714,000 in Flagstar Financial, Inc. $FLG

Key Points

• Townsquare Capital LLC acquired 61,486 shares of Flagstar Financial, valued at approximately $714,000, during the first quarter.
• Flagstar Financial reported a loss of $0.14 earnings per share, missing estimates, with revenue down 26.1% year-over-year.
• The company announced a quarterly dividend of $0.01, representing a 0.3% yield, to be paid on September 17th.

Townsquare Capital LLC acquired a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,486 shares of the company's stock, valued at approximately $714,000.

Several other large investors also recently modified their holdings of FLG. Bayforest Capital Ltd acquired a new stake in shares of Flagstar Financial in the 1st quarter worth about $97,000. HB Wealth Management LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth about $119,000. Keynote Financial Services LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth about $122,000. Princeton Capital Management LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth about $128,000. Finally, Wellington Shields & Co. LLC acquired a new stake in shares of Flagstar Financial in the 1st quarter worth about $131,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised their price objective on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. dropped their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. DA Davidson restated a "buy" rating and set a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. Jefferies Financial Group assumed coverage on Flagstar Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Wall Street Zen cut Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Flagstar Financial presently has a consensus rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Stock Performance

Flagstar Financial stock traded up $0.14 during midday trading on Tuesday, reaching $12.10. The stock had a trading volume of 4,716,925 shares, compared to its average volume of 6,421,714. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35. The firm's 50-day moving average price is $11.42 and its 200 day moving average price is $11.63. The firm has a market capitalization of $5.03 billion, a PE ratio of -7.33 and a beta of 1.11. 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 posted its earnings results on Friday, July 25th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The company had revenue of $496.00 million for the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The firm's revenue was down 26.1% on a year-over-year basis. As a group, research analysts predict that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently announced 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 dividend yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial's dividend payout ratio is currently -2.42%.

Flagstar Financial Company 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.