Vanguard Group Inc. Takes $378.16 Million Position in Flagstar Financial, Inc. $FLG

Key Points

• Vanguard Group Inc. purchased a new stake in Flagstar Financial, acquiring approximately 32.5 million shares valued at about $378 million, representing approximately 7.84% ownership of the company.
• Flagstar Financial reported a quarterly loss of ($0.14) EPS, missing analyst expectations and showing a significant revenue decline of 26.1% year-over-year.
• Analysts have set a consensus price target of $13.22 for Flagstar Financial, with various ratings including "buy," "hold," and one "sell" rating from investment analysts.

Vanguard Group Inc. acquired a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 32,543,992 shares of the company's stock, valued at approximately $378,161,000. Vanguard Group Inc. owned about 7.84% of Flagstar Financial at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bayforest Capital Ltd bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $97,000. HB Wealth Management LLC bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $119,000. Princeton Capital Management LLC bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $128,000. Wellington Shields & Co. LLC bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $131,000. Finally, R Squared Ltd bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $131,000. Institutional investors own 67.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on FLG shares. Stephens reaffirmed an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 12th. Jefferies Financial Group started coverage on Flagstar Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective on the stock. Citigroup lifted their price objective on Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $13.22.

Flagstar Financial Trading Down 1.6%

Shares of NYSE FLG traded down $0.19 during trading hours on Thursday, hitting $11.81. 5,275,545 shares of the company traded hands, compared to its average volume of 6,972,297. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of -7.16 and a beta of 1.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The company's 50 day moving average price is $11.43 and its 200 day moving average price is $11.63. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35.

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

Flagstar Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Financial's 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.