Cetera Investment Advisers Makes New $885,000 Investment in Flagstar Financial, Inc. (NYSE:FLG)

Cetera Investment Advisers purchased a new position in Flagstar Financial, Inc. (NYSE:FLG) during the 1st quarter, Holdings Channel reports. The firm purchased 76,175 shares of the company’s stock, valued at approximately $885,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new stake in Flagstar Financial in the 1st quarter worth $712,000. AE Wealth Management LLC acquired a new stake in Flagstar Financial in the 1st quarter worth $216,000. Finally, Princeton Capital Management LLC acquired a new stake in shares of Flagstar Financial during the 1st quarter valued at about $128,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FLG shares. Wall Street Zen lowered shares of Flagstar Financial from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. DA Davidson reiterated a “buy” rating and set a $14.50 target price on shares of Flagstar Financial in a research report on Thursday, June 26th. Stephens reiterated an “equal weight” rating and set a $12.50 target price on shares of Flagstar Financial in a research report on Thursday, June 12th. Jefferies Financial Group started coverage on shares of Flagstar Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $15.00 target price on the stock. Finally, Truist Financial decreased their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.22.

Flagstar Financial Trading Up 1.9%

Shares of FLG stock opened at $11.99 on Thursday. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The company has a market capitalization of $4.98 billion, a P/E ratio of -7.27 and a beta of 1.11. The firm has a 50-day moving average price of $11.40 and a 200 day moving average price of $11.58. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74.

Flagstar Financial (NYSE:FLG) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The firm had revenue of $496.00 million for the quarter, compared to the consensus estimate of $524.33 million. Flagstar Financial’s quarterly revenue was down 26.1% on a year-over-year basis. Research 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 will be paid on Wednesday, September 17th. Investors 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 of this dividend is Friday, September 5th. Flagstar Financial’s dividend payout ratio (DPR) is currently -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.