KLP Kapitalforvaltning AS Buys 5,000 Shares of Flagstar Financial, Inc. $FLG

KLP Kapitalforvaltning AS grew its position in Flagstar Financial, Inc. (NYSE:FLG) by 8.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 66,313 shares of the company’s stock after acquiring an additional 5,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Flagstar Financial were worth $703,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. UMB Bank n.a. acquired a new position in shares of Flagstar Financial in the second quarter worth approximately $33,000. Marquette Asset Management LLC acquired a new position in shares of Flagstar Financial during the second quarter valued at about $35,000. American National Bank & Trust acquired a new stake in Flagstar Financial in the second quarter valued at approximately $41,000. Geneos Wealth Management Inc. acquired a new position in Flagstar Financial during the first quarter worth $45,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Flagstar Financial during the 2nd quarter valued at about $43,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Financial Stock Down 6.8%

Shares of Flagstar Financial stock opened at $11.12 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The company’s fifty day simple moving average is $12.15 and its two-hundred day simple moving average is $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 announced its earnings results on Wednesday, January 26th. The company reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $287.00 million during the quarter. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. Research analysts anticipate that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Flagstar Financial’s dividend payout ratio (DPR) is currently -2.42%.

Analysts Set New Price Targets

A number of brokerages recently commented on FLG. Citigroup increased their price target on Flagstar Financial from $15.50 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Cantor Fitzgerald began coverage on shares of Flagstar Financial in a report on Wednesday, September 10th. They issued an “overweight” rating and a $15.00 price objective for the company. TD Cowen assumed coverage on shares of Flagstar Financial in a research report on Thursday, September 25th. They issued a “hold” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, July 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Flagstar Financial has a consensus rating of “Hold” and an average target price 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.