Cetera Investment Advisers Purchases Shares of 76,175 Flagstar Financial, Inc. (NYSE:FLG)

Cetera Investment Advisers purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 76,175 shares of the company’s stock, valued at approximately $885,000.

Several other large investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in shares of Flagstar Financial in the first quarter valued at approximately $712,000. AE Wealth Management LLC bought a new position in shares of Flagstar Financial in the first quarter valued at approximately $216,000. Finally, Princeton Capital Management LLC bought a new position in shares of Flagstar Financial in the first quarter valued at approximately $128,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Financial Stock Up 1.9%

Flagstar Financial stock opened at $11.99 on Thursday. The company has a market capitalization of $4.98 billion, a P/E ratio of -7.27 and a beta of 1.11. The firm’s fifty day simple moving average is $11.40 and its 200-day simple moving average is $11.58. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Flagstar Financial, Inc. has a 1-year low of $8.56 and a 1-year high of $13.35.

Flagstar Financial (NYSE:FLG) last announced its earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 return on equity of 6.60% and a negative net margin of 10.83%. The company’s revenue was down 26.1% on a year-over-year basis. Sell-side analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The company 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 $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial’s dividend payout ratio (DPR) is -2.42%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “hold” rating for the company in a report on Friday, July 11th. Wall Street Zen cut shares of Flagstar Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, July 1st. Jefferies Financial Group assumed coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They set a “buy” rating and a $15.00 target price for the company. Finally, DA Davidson restated a “buy” rating and set a $14.50 target price on shares of Flagstar Financial in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.22.

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.