Janney Montgomery Scott LLC Invests $549,000 in Flagstar Financial, Inc. $FLG

Janney Montgomery Scott LLC acquired a new position in shares of Flagstar Financial, Inc. (NYSE:FLG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,827 shares of the company’s stock, valued at approximately $549,000.

A number of other institutional investors have also added to or reduced their stakes in FLG. KLP Kapitalforvaltning AS acquired a new position in Flagstar Financial during the 1st quarter worth approximately $712,000. AE Wealth Management LLC bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $216,000. Princeton Capital Management LLC bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $128,000. Cetera Investment Advisers bought a new stake in shares of Flagstar Financial during the first quarter valued at approximately $885,000. Finally, Neo Ivy Capital Management acquired a new stake in Flagstar Financial in the 1st quarter valued at $2,103,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on FLG. DA Davidson reissued a “buy” rating and issued a $14.50 price target on shares of Flagstar Financial in a research report on Thursday, June 26th. Truist Financial upped their target price on shares of Flagstar Financial from $12.00 to $13.50 and gave the stock a “hold” rating in a report on Friday, September 12th. Citigroup upped their target price on shares of Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Morgan Stanley set a $14.00 price objective on Flagstar Financial and gave the stock an “underperform” rating in a report on Monday, September 29th. Finally, Cantor Fitzgerald started coverage on Flagstar Financial in a report on Wednesday, September 10th. They set an “overweight” rating and a $15.00 price objective for the company. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.71.

Flagstar Financial Stock Performance

Shares of FLG stock opened at $11.12 on Friday. Flagstar Financial, Inc. has a one year low of $8.56 and a one 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 50-day moving average of $12.15 and a 200-day moving average of $11.66. The company has a market cap of $4.62 billion, a P/E ratio of -6.74 and a beta of 1.17.

Flagstar Financial (NYSE:FLG) last issued its quarterly earnings data on Wednesday, January 26th. The company reported $0.27 earnings per share (EPS) for the quarter. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The business had revenue of $287.00 million during the quarter. Equities research analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Sunday, September 7th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, September 5th. Flagstar Financial’s dividend payout ratio (DPR) is -2.42%.

Flagstar Financial 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.