Zurcher Kantonalbank Zurich Cantonalbank Buys New Position in Flagstar Financial, Inc. (NYSE:FLG)

Key Points

• Zurcher Kantonalbank acquired a new stake in Flagstar Financial, purchasing 57,745 shares valued at approximately $671,000 during the first quarter.
• Flagstar Financial reported a quarterly loss of ($0.14) earnings per share, missing analysts’ expectations, and experienced a 26.1% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.01, with a dividend yield of 0.4%, despite currently having a negative dividend payout ratio.

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 57,745 shares of the company's stock, valued at approximately $671,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HB Wealth Management LLC bought a new position in shares of Flagstar Financial during the first quarter worth about $119,000. Princeton Capital Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter worth approximately $128,000. AE Wealth Management LLC acquired a new position in shares of Flagstar Financial in the 1st quarter worth approximately $216,000. Pacer Advisors Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter valued at approximately $296,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Flagstar Financial during the 1st quarter valued at approximately $712,000. Institutional investors own 67.88% of the company's stock.

Analyst Upgrades and Downgrades

FLG has been the subject of a number of research reports. Stephens reaffirmed an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a report on Thursday, June 12th. Jefferies Financial Group assumed coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price target for the company. Citigroup increased their price objective on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Truist Financial cut their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Finally, DA Davidson reaffirmed a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a report on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Flagstar Financial has an average rating of "Hold" and a consensus target price of $13.22.

Flagstar Financial Stock Performance

Flagstar Financial stock traded up $0.19 during mid-day trading on Friday, hitting $11.56. 5,740,303 shares of the company's stock traded hands, compared to its average volume of 6,486,745. 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, Inc. has a one year low of $8.56 and a one year high of $13.35. The firm has a 50 day moving average price of $11.38 and a 200 day moving average price of $11.53. The company has a market cap of $4.80 billion, a PE ratio of -7.01 and a beta of 1.11.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings data 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 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%. The business's quarterly revenue was down 26.1% compared to the same quarter last year. On average, equities analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be paid 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 (DPR) is currently -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.