Phoenix Financial Ltd. Has $704,000 Stock Position in Flagstar Financial, Inc. $FLG

Phoenix Financial Ltd. reduced its position in shares of Flagstar Financial, Inc. (NYSE:FLG) by 63.1% during the second quarter, Holdings Channel reports. The institutional investor owned 66,395 shares of the company’s stock after selling 113,699 shares during the period. Phoenix Financial Ltd.’s holdings in Flagstar Financial were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FLG. Liberty 77 Capital L.P. acquired a new position in Flagstar Financial during the 1st quarter worth approximately $871,500,000. Reverence Capital Partners L.P. purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $418,101,000. Vanguard Group Inc. purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $378,161,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $76,911,000. Finally, Azora Capital LP purchased a new stake in shares of Flagstar Financial in the first quarter worth approximately $74,133,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on FLG. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Financial in a research note on Wednesday, October 8th. DA Davidson reissued a “buy” rating and issued a $14.50 price objective on shares of Flagstar Financial in a research note on Thursday, June 26th. Citigroup increased their price objective on Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Morgan Stanley set a $14.00 price objective on Flagstar Financial and gave the stock an “underperform” rating in a research note on Monday, September 29th. Finally, TD Cowen assumed coverage on Flagstar Financial in a research note on Thursday, September 25th. They issued a “hold” rating and a $14.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.71.

Flagstar Financial Stock Performance

Shares of FLG opened at $11.51 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -6.97 and a beta of 1.17. The stock has a 50 day moving average of $12.13 and a 200 day moving average of $11.67. Flagstar Financial, Inc. has a 12 month low of $8.56 and a 12 month high of $13.35.

Flagstar Financial (NYSE:FLG) last issued its quarterly earnings results on Wednesday, January 26th. The company reported $0.27 EPS for the quarter. The company 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%. As a group, sell-side analysts forecast that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th were 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 was Friday, September 5th. Flagstar Financial’s dividend payout ratio is -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.