Alyeska Investment Group L.P. Invests $49.51 Million in Flagstar Financial, Inc. $FLG

Key Points

• Alyeska Investment Group L.P. has made a significant new investment of $49.51 million in Flagstar Financial, acquiring approximately 4.26 million shares which amounts to about 1.03% of the company.
• Flagstar Financial shares have received varied ratings from analysts, with a consensus rating of "Hold" and an average target price of $13.33, reflecting mixed sentiments in the market.
• The company recently reported a net loss per share of $0.14 and total revenues down by 26.1% year-over-year, indicating financial challenges as they prepare for dividend payments.

Alyeska Investment Group L.P. purchased a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,260,666 shares of the company's stock, valued at approximately $49,509,000. Alyeska Investment Group L.P. owned 1.03% of Flagstar Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Liberty 77 Capital L.P. bought a new stake in Flagstar Financial during the 1st quarter valued at $871,500,000. Reverence Capital Partners L.P. bought a new stake in Flagstar Financial during the 1st quarter valued at $418,101,000. Vanguard Group Inc. bought a new stake in Flagstar Financial during the 1st quarter valued at $378,161,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $76,911,000. Finally, Azora Capital LP acquired a new stake in shares of Flagstar Financial in the 1st quarter worth $74,133,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Flagstar Financial Stock Performance

Shares of NYSE FLG traded down $0.10 during trading on Monday, reaching $12.87. 3,299,230 shares of the company traded hands, compared to its average volume of 6,330,600. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The firm's fifty day simple moving average is $11.80 and its 200 day simple moving average is $11.63. The stock has a market cap of $5.35 billion, a P/E ratio of -7.80 and a beta of 1.20.

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 for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The business had revenue of $496.00 million during the quarter, compared to analysts' expectations of $524.33 million. The business's revenue was down 26.1% on a year-over-year basis. As a group, research analysts anticipate that Flagstar Financial, Inc. will post -0.31 earnings per share for the current fiscal year.

Flagstar Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Sunday, September 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 5th. Flagstar Financial's payout ratio is presently -2.42%.

Analysts Set New Price Targets

FLG has been the subject of a number of recent analyst reports. DA Davidson reissued a "buy" rating and issued a $14.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 26th. Wall Street Zen cut Flagstar Financial from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stephens reissued an "equal weight" rating and issued a $12.50 price objective on shares of Flagstar Financial in a research report on Thursday, June 12th. Jefferies Financial Group assumed coverage on Flagstar Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $15.00 price objective for the company. Finally, Truist Financial reduced their target price on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.33.

Flagstar Financial Company Profile

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.