LPL Financial LLC Takes Position in Flagstar Financial, Inc. $FLG

LPL Financial LLC bought a new stake in Flagstar Financial, Inc. (NYSE:FLG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 208,514 shares of the company’s stock, valued at approximately $2,423,000. LPL Financial LLC owned 0.05% of Flagstar Financial at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. HB Wealth Management LLC acquired a new position in shares of Flagstar Financial in the first quarter valued at approximately $119,000. Princeton Capital Management LLC acquired a new position in shares of Flagstar Financial in the first quarter valued at approximately $128,000. Inspire Advisors LLC acquired a new position in Flagstar Financial during the first quarter worth $215,000. AE Wealth Management LLC acquired a new position in Flagstar Financial during the first quarter worth $216,000. Finally, Pacer Advisors Inc. purchased a new position in Flagstar Financial in the first quarter worth $296,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Financial Stock Up 0.2%

Flagstar Financial stock opened at $11.96 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of -7.25 and a beta of 1.11. Flagstar Financial, Inc. has a fifty-two week low of $8.56 and a fifty-two week high of $13.35. The stock’s fifty day moving average is $11.42 and its two-hundred day moving average is $11.63.

Flagstar Financial (NYSE:FLG) last posted 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 firm had revenue of $496.00 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 26.1% compared to the same quarter last year. Analysts predict that Flagstar Financial, Inc. will post -0.31 EPS 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. Shareholders of record on Sunday, September 7th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Financial’s dividend payout ratio is -2.42%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $15.00 target price on the stock. Citigroup boosted their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Stephens restated an “equal weight” rating and set a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. Truist Financial decreased their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.