Alaska Permanent Fund Corp Invests $1.06 Million 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 stake in shares of Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 90,678 shares of the company's stock, valued at approximately $1,062,000.

A number of other institutional investors also recently modified their holdings of FLG. Liberty 77 Capital L.P. acquired a new position in shares of Flagstar Financial during the 1st quarter valued at $871,500,000. Reverence Capital Partners L.P. acquired a new position in shares of Flagstar Financial during the 1st quarter valued at $418,101,000. Vanguard Group Inc. acquired a new position in shares of Flagstar Financial during the 1st quarter valued at $378,161,000. T. Rowe Price Investment Management Inc. bought a new stake in Flagstar Financial during the 1st quarter valued at $76,911,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Flagstar Financial in the 1st quarter worth $43,009,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLG. Wall Street Zen lowered shares of Flagstar Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Jefferies Financial Group initiated coverage on shares of Flagstar Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price target on the stock. Truist Financial cut their price target on shares of Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Stephens reissued an "equal weight" rating and issued a $12.50 price target on shares of Flagstar Financial in a report on Thursday, June 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. 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, the stock has a consensus rating of "Hold" and an average price target of $13.33.

Flagstar Financial Price Performance

Shares of Flagstar Financial stock traded up $0.57 on Tuesday, reaching $13.13. The stock had a trading volume of 3,061,335 shares, compared to its average volume of 6,408,171. Flagstar Financial, Inc. has a 1 year low of $8.56 and a 1 year high of $13.35. The company has a market cap of $5.46 billion, a P/E ratio of -7.96 and a beta of 1.11. 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 business's 50 day moving average is $11.49 and its two-hundred day moving average is $11.63.

Flagstar Financial (NYSE:FLG - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The company reported ($0.14) earnings per share (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 firm had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. Flagstar Financial's revenue for the quarter was down 26.1% compared to the same quarter last year. As a group, research analysts anticipate that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is 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.