American Century Companies Inc. Takes Position in Flagstar Financial, Inc. $FLG

American Century Companies Inc. acquired a new stake in shares of Flagstar Financial, Inc. (NYSE:FLG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,876 shares of the company’s stock, valued at approximately $405,000.

A number of other hedge funds also recently bought and sold shares of FLG. Bayforest Capital Ltd purchased a new stake in Flagstar Financial during the first quarter valued at about $97,000. HB Wealth Management LLC purchased a new stake in Flagstar Financial during the first quarter valued at about $119,000. Keynote Financial Services LLC purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $122,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $122,000. Finally, Princeton Capital Management LLC purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $128,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Financial Price Performance

Shares of FLG opened at $12.97 on Friday. The firm has a market cap of $5.39 billion, a PE ratio of -7.86 and a beta of 1.20. The firm’s 50 day moving average price is $11.80 and its 200 day moving average price is $11.64. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Flagstar Financial, Inc. has a twelve month low of $8.56 and a twelve month high of $13.35.

Flagstar Financial (NYSE:FLG) last issued its quarterly earnings data 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 business had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The firm’s revenue was down 26.1% compared to the same quarter last year. As a group, research analysts expect that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be issued a dividend of $0.01 per share. 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

FLG has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Friday, July 11th. JPMorgan Chase & Co. reduced their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, July 1st. Stephens reissued an “equal weight” rating and issued a $12.50 price target on shares of Flagstar Financial in a research report on Thursday, June 12th. Citigroup increased their price target on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. 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. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.33.

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.