Alaska Permanent Fund Corp Buys New Shares in Flagstar Financial, Inc. $FLG

Key Points

• The Alaska Permanent Fund Corp invested approximately $1.06 million in Flagstar Financial by acquiring 90,678 shares in the first quarter.
• Flagstar Financial reported a loss per share of ($0.14) for the latest quarter, missing analysts' expectations, with a revenue decline of 26.1% year-over-year.
• The company declared a quarterly dividend of $0.01 per share, with a low annualized yield of 0.3%, and a payout ratio currently at -2.42%.

Alaska Permanent Fund Corp bought a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 90,678 shares of the company's stock, valued at approximately $1,062,000.

Several other hedge funds also recently made changes to their positions in the company. Reverence Capital Partners L.P. purchased a new position in Flagstar Financial in the first quarter valued at about $418,101,000. T. Rowe Price Investment Management Inc. purchased a new position in Flagstar Financial in the first quarter valued at about $76,911,000. EntryPoint Capital LLC purchased a new position in Flagstar Financial in the first quarter valued at about $258,000. Hsbc Holdings PLC purchased a new position in Flagstar Financial in the first quarter valued at about $186,000. Finally, Quantbot Technologies LP purchased a new position in Flagstar Financial in the first quarter valued at about $3,933,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Flagstar Financial from $15.00 to $15.50 and gave the company a "buy" rating in a report on Thursday, May 15th. DA Davidson restated a "buy" rating and set a $14.50 target price on shares of Flagstar Financial in a report on Thursday, June 26th. Truist Financial dropped their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. dropped their target price on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Finally, Stephens restated an "equal weight" rating and set a $12.50 target price on shares of Flagstar Financial in a report on Thursday, June 12th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Flagstar Financial currently has an average rating of "Hold" and an average price target of $13.22.

Flagstar Financial Trading Up 6.8%

Shares of NYSE FLG traded up $0.80 during midday trading on Friday, reaching $12.60. 9,849,729 shares of the stock were exchanged, compared to its average volume of 6,870,787. The company has a market capitalization of $5.24 billion, a P/E ratio of -7.64 and a beta of 1.11. Flagstar Financial, Inc. has a 52-week low of $8.56 and a 52-week high of $13.35. 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 stock has a 50 day moving average price of $11.47 and a 200-day moving average price of $11.63.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The firm had revenue of $496.00 million for the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial had a negative return on equity of 6.60% and a negative net margin of 10.83%.The company's revenue was down 26.1% compared to the same quarter last year. Equities research analysts expect 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. Stockholders of record on Sunday, September 7th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Financial's 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.