Invesco Ltd. Makes New Investment in Flagstar Financial, Inc. $FLG

Invesco Ltd. bought a new position in Flagstar Financial, Inc. (NYSE:FLG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 728,059 shares of the company’s stock, valued at approximately $8,460,000. Invesco Ltd. owned 0.18% of Flagstar Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mutual of America Capital Management LLC bought a new stake in shares of Flagstar Financial in the first quarter valued at about $1,814,000. PNC Financial Services Group Inc. bought a new stake in shares of Flagstar Financial in the first quarter valued at about $288,000. LPL Financial LLC bought a new stake in shares of Flagstar Financial in the first quarter valued at about $2,423,000. Jefferies Financial Group Inc. bought a new stake in shares of Flagstar Financial in the first quarter valued at about $837,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Flagstar Financial in the first quarter valued at about $2,103,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FLG. Wall Street Zen downgraded Flagstar Financial from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Jefferies Financial Group began coverage on Flagstar Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, July 1st. Stephens restated an “equal weight” rating and issued a $12.50 price objective on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, Truist Financial decreased their price objective on Flagstar Financial from $13.00 to $12.00 and set a “hold” rating for the company in a report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.22.

Flagstar Financial Price Performance

FLG opened at $12.56 on Tuesday. The business’s 50-day moving average is $11.49 and its two-hundred day moving average is $11.63. Flagstar Financial, Inc. has a 1 year low of $8.56 and a 1 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 firm has a market capitalization of $5.22 billion, a PE ratio of -7.61 and a beta of 1.11.

Flagstar Financial (NYSE:FLG) last issued its quarterly earnings results 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). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The business had revenue of $496.00 million for the quarter, compared to analysts’ expectations of $524.33 million. The business’s revenue for the quarter was down 26.1% compared to the same quarter last year. Research analysts anticipate that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be paid a dividend of $0.01 per share. The ex-dividend date 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 presently -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.