New York State Teachers Retirement System Purchases Shares of 159,650 Flagstar Financial, Inc. $FLG

New York State Teachers Retirement System purchased a new stake in Flagstar Financial, Inc. (NYSE:FLG) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 159,650 shares of the company’s stock, valued at approximately $1,692,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC acquired a new position in Flagstar Financial in the 2nd quarter worth $28,000. UMB Bank n.a. bought a new stake in shares of Flagstar Financial in the second quarter valued at about $33,000. Marquette Asset Management LLC bought a new stake in shares of Flagstar Financial in the second quarter valued at about $35,000. American National Bank & Trust acquired a new position in shares of Flagstar Financial during the second quarter worth about $41,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Flagstar Financial during the second quarter worth about $43,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLG has been the subject of several recent research reports. TD Cowen initiated coverage on Flagstar Financial in a research report on Thursday, September 25th. They set a “hold” rating and a $14.00 price objective for the company. Citigroup upped their price objective on Flagstar Financial from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Financial in a research report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on Flagstar Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, DA Davidson reaffirmed a “buy” rating and set a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Flagstar Financial has an average rating of “Hold” and a consensus target price of $13.71.

Flagstar Financial Price Performance

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

Flagstar Financial (NYSE:FLG) last released its quarterly earnings data on Wednesday, January 26th. The company reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $287.00 million for the quarter. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%. On average, analysts anticipate that Flagstar Financial, Inc. will post -0.31 earnings per share for the current year.

Flagstar Financial Announces Dividend

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