Comerica Bank Acquires New Shares in Flagstar Financial, Inc. $FLG

Comerica Bank acquired a new stake in Flagstar Financial, Inc. (NYSE:FLG) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 85,211 shares of the company’s stock, valued at approximately $990,000.

A number of other large investors have also made changes to their positions in FLG. Brooklyn Investment Group bought a new stake in shares of Flagstar Financial in the 1st quarter valued at $51,000. Bayforest Capital Ltd bought a new stake in shares of Flagstar Financial in the 1st quarter valued at $97,000. HB Wealth Management LLC bought a new stake in shares of Flagstar Financial in the 1st quarter valued at $119,000. Keynote Financial Services LLC acquired a new position in Flagstar Financial in the 1st quarter worth $122,000. Finally, Atlas Capital Advisors Inc. acquired a new position in Flagstar Financial in the 1st quarter worth $122,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Financial Trading Up 0.2%

Flagstar Financial stock opened at $12.97 on Friday. The firm has a 50-day moving average of $11.80 and a 200-day moving average of $11.65. 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 company has a market cap of $5.39 billion, a price-to-earnings ratio of -7.86 and a beta of 1.20.

Flagstar Financial (NYSE:FLG) last posted its quarterly earnings data on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The business had revenue of $496.00 million for the quarter, compared to analyst estimates of $524.33 million. The business’s revenue for the quarter was down 26.1% on a year-over-year basis. On average, equities analysts expect that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Sunday, September 7th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial’s dividend payout ratio is currently -2.42%.

Analysts Set New Price Targets

FLG has been the subject of a number of research analyst reports. 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 research note on Tuesday, August 26th. Stephens reaffirmed an “equal weight” rating and issued a $12.50 target price on shares of Flagstar Financial in a research note on Thursday, June 12th. Wall Street Zen lowered shares of Flagstar Financial from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. DA Davidson reaffirmed a “buy” rating and issued a $14.50 target price on shares of Flagstar Financial in a research note on Thursday, June 26th. Finally, Jefferies Financial Group initiated coverage on shares of Flagstar Financial in a research note on Wednesday, May 21st. They issued a “buy” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.