GAMMA Investing LLC Purchases Shares of 5,771 Flagstar Financial, Inc. $FLG

GAMMA Investing LLC purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,771 shares of the company’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC acquired a new stake in Flagstar Financial in the first quarter valued at $422,000. Mendon Capital Advisors Corp acquired a new stake in Flagstar Financial in the first quarter valued at $2,403,000. Mutual of America Capital Management LLC acquired a new stake in Flagstar Financial in the first quarter valued at $1,814,000. Liberty 77 Capital L.P. acquired a new stake in Flagstar Financial in the first quarter valued at $871,500,000. Finally, Comerica Bank acquired a new stake in Flagstar Financial in the first quarter valued at $990,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Financial Price Performance

Shares of NYSE:FLG opened at $12.02 on Friday. The business’s 50 day simple moving average is $12.07 and its 200-day simple moving average is $11.67. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -7.28 and a beta of 1.17. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35.

Flagstar Financial (NYSE:FLG) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.Flagstar Financial’s revenue for the quarter was down 26.1% on a year-over-year basis. As a group, equities 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 declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Financial’s payout ratio is -2.42%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLG. DA Davidson restated a “buy” rating and issued a $14.50 price target on shares of Flagstar Financial in a research note on Thursday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Financial in a research report on Saturday, September 27th. Citigroup lifted their target price on Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Morgan Stanley set a $14.00 target price on Flagstar Financial and gave the stock an “underperform” rating in a research report on Monday. Finally, TD Cowen assumed coverage on Flagstar Financial in a research report on Thursday, September 25th. They set a “hold” rating and a $14.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.71.

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.