Hennessy Advisors Inc. Invests $2.78 Million in Flagstar Financial, Inc. $FLG

Hennessy Advisors Inc. acquired a new stake in Flagstar Financial, Inc. (NYSE:FLG) in the 2nd quarter, Holdings Channel reports. The firm acquired 262,000 shares of the company’s stock, valued at approximately $2,777,000.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. purchased a new position in Flagstar Financial in the 2nd quarter valued at approximately $33,000. Marquette Asset Management LLC purchased a new position in Flagstar Financial in the 2nd quarter valued at approximately $35,000. American National Bank & Trust purchased a new position in Flagstar Financial in the 2nd quarter valued at approximately $41,000. Harbor Capital Advisors Inc. purchased a new position in Flagstar Financial in the 2nd quarter valued at approximately $43,000. Finally, Geneos Wealth Management Inc. purchased a new position in Flagstar Financial in the 1st quarter valued at approximately $45,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Financial Price Performance

Shares of NYSE:FLG opened at $12.02 on Friday. The business’s fifty day moving average price is $12.07 and its two-hundred day moving average price is $11.67. The stock has a market cap of $4.99 billion, a PE ratio of -7.28 and a beta of 1.17. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Flagstar Financial, Inc. has a one year low of $8.56 and a one year high of $13.35.

Flagstar Financial (NYSE:FLG) last posted its quarterly earnings data 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 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% compared to the same quarter last year. On average, analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current fiscal year.

Flagstar Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

FLG has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on Flagstar Financial in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Flagstar Financial from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, July 1st. Citigroup increased their target price on Flagstar Financial from $15.50 to $16.50 and gave the company a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Financial in a report on Saturday, September 27th. Finally, Stephens reiterated an “equal weight” rating and set a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. 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, Flagstar Financial 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.