57,745 Shares in Flagstar Financial, Inc. (NYSE:FLG) Bought by Zurcher Kantonalbank Zurich Cantonalbank

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 purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,745 shares of the company's stock, valued at approximately $671,000.

Other institutional investors have also bought and sold shares of the company. HB Wealth Management LLC acquired a new stake in Flagstar Financial in the 1st quarter valued at $119,000. Princeton Capital Management LLC acquired a new stake in Flagstar Financial in the 1st quarter valued at $128,000. AE Wealth Management LLC bought a new position in Flagstar Financial in the 1st quarter valued at $216,000. Pacer Advisors Inc. bought a new position in Flagstar Financial in the 1st quarter valued at $296,000. Finally, KLP Kapitalforvaltning AS bought a new position in Flagstar Financial in the 1st quarter valued at $712,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Flagstar Financial Trading Up 1.7%

Shares of FLG stock traded up $0.19 on Friday, reaching $11.56. 5,740,303 shares of the stock were exchanged, compared to its average volume of 7,143,696. The stock has a market cap of $4.80 billion, a PE ratio of -7.01 and a beta of 1.11. Flagstar Financial, Inc. has a one year low of $8.56 and a one year 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 stock has a 50 day moving average price of $11.38 and a 200 day moving average price of $11.54.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.14) 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 for the quarter, compared to analyst estimates of $524.33 million. The firm's revenue was down 26.1% compared to the same quarter last year. Equities research analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Financial's payout ratio is -2.42%.

Analysts Set New Price Targets

Several brokerages have issued reports on FLG. Truist Financial cut 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. Citigroup lifted their price objective on Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. 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. Stephens reiterated an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. Finally, Wall Street Zen downgraded Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.22.

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.