Flagstar Financial, Inc. (NYSE:FLG) Declares $0.01 Quarterly Dividend

Key Points

• Flagstar Financial, Inc. has declared a quarterly dividend of $0.01 per share, with an annualized dividend amounting to $0.04 and a yield of 0.35%.
• The company's recent earnings report revealed a loss of ($0.14) per share, missing expectations, and a year-over-year revenue decline of 26.1% to $496 million.
• Flagstar Financial's stock has received mixed analyst ratings, with one "sell," five "hold," and four "buy" ratings; the average target price is set at $13.22.

Flagstar Financial, Inc. (NYSE:FLG - Get Free Report) announced a quarterly dividend on Friday, July 25th, RTT News reports. Stockholders of record on Sunday, September 7th will be paid a dividend of 0.01 per share on Wednesday, September 17th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%.

Flagstar Financial has a payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flagstar Financial to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 6.3%.

Flagstar Financial Stock Performance

Shares of FLG stock traded down $0.60 on Friday, reaching $11.45. The stock had a trading volume of 19,463,503 shares, compared to its average volume of 6,443,710. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.85. The firm's 50-day moving average is $11.52 and its two-hundred day moving average is $11.37. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of -4.40 and a beta of 1.10. Flagstar Financial has a 12 month low of $8.56 and a 12 month high of $13.35.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $496.00 million during the quarter, compared to the consensus estimate of $524.33 million. Flagstar Financial had a negative net margin of 14.21% and a negative return on equity of 9.68%. The firm's revenue for the quarter was down 26.1% on a year-over-year basis. On average, research analysts expect that Flagstar Financial will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLG has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. Citigroup increased their price target on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Truist Financial lowered their price target 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. Stephens reissued an "equal weight" rating and issued a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, Wall Street Zen lowered shares of 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 given a buy rating to the stock. Based on data from MarketBeat, Flagstar Financial has an average rating of "Hold" and an average target price of $13.22.

Institutional Trading of Flagstar Financial

Several large investors have recently made changes to their positions in FLG. Geneos Wealth Management Inc. acquired a new stake in shares of Flagstar Financial during the 1st quarter worth approximately $45,000. Strs Ohio acquired a new stake in Flagstar Financial in the first quarter valued at approximately $102,000. United Services Automobile Association acquired a new stake in Flagstar Financial in the first quarter valued at approximately $219,000. Empowered Funds LLC acquired a new stake in Flagstar Financial in the first quarter valued at approximately $516,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Flagstar Financial in the first quarter valued at approximately $1,754,000. Institutional investors and hedge funds own 67.88% of the company's stock.

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.

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