American Century Companies Inc. Invests $405,000 in Flagstar Financial, Inc. $FLG

Key Points

• American Century Companies Inc. acquired a new stake in Flagstar Financial, purchasing 34,876 shares valued at approximately $405,000. This move highlights growing interest from institutional investors, with 67.88% of the stock owned by hedge funds.
• Flagstar Financial recently reported a Q2 earnings miss with a loss of ($0.14) EPS, below the consensus estimate of ($0.12), and revenues dropping by 26.1% from the previous year.
• The company declared a quarterly dividend of $0.01 per share, which will yield 0.3%, although its dividend payout ratio stands at -2.42%, indicating it is not currently profitable.

American Century Companies Inc. acquired a new position in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,876 shares of the company's stock, valued at approximately $405,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Flagstar Financial during the 1st quarter worth about $378,161,000. Charles Schwab Investment Management Inc. bought a new position in Flagstar Financial during the 1st quarter worth $43,009,000. Private Management Group Inc. acquired a new stake in Flagstar Financial in the first quarter valued at about $35,669,000. Certuity LLC bought a new position in Flagstar Financial in the first quarter valued at about $24,111,000. Finally, Federated Hermes Inc. bought a new stake in Flagstar Financial in the first quarter worth approximately $11,449,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Flagstar Financial Stock Performance

Shares of FLG stock traded up $0.04 during mid-day trading on Wednesday, hitting $12.65. 1,407,512 shares of the stock were exchanged, compared to its average volume of 6,295,929. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of -7.67 and a beta of 1.20. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The stock's fifty day simple moving average is $11.88 and its two-hundred day simple moving average is $11.64.

Flagstar Financial (NYSE:FLG - Get Free Report) last issued 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). The business had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial had a negative net margin of 10.83% and a negative return on equity of 6.60%. The company's revenue was down 26.1% on a year-over-year basis. On average, analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FLG shares. Stephens reaffirmed an "equal weight" rating and set a $12.50 price target 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 set a "buy" rating and a $15.00 price objective for the company. Citigroup lifted their target price on Flagstar Financial from $15.50 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Truist Financial lowered their price objective on Flagstar Financial from $13.00 to $12.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.50.

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.