State of Alaska Department of Revenue Buys Shares of 34,032 Flagstar Financial, Inc. $FLG

Key Points

• The State of Alaska Department of Revenue acquired 34,032 shares of Flagstar Financial, Inc. valued at approximately $360,000 during the 2nd quarter.
• Despite its stock facing a price target reduction from JPMorgan Chase & Co., Flagstar Financial has multiple "Buy" ratings from other analysts, with a consensus target price of $13.71.
• Flagstar Financial recently announced a quarterly dividend of $0.01, representing a yield of 0.3% amidst a reported negative earnings per share for the quarter.

State of Alaska Department of Revenue bought a new stake in Flagstar Financial, Inc. (NYSE:FLG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 34,032 shares of the company's stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in Flagstar Financial in the second quarter valued at about $33,000. Marquette Asset Management LLC purchased a new position in Flagstar Financial in the second quarter valued at about $35,000. American National Bank & Trust purchased a new position in Flagstar Financial in the second quarter valued at about $41,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Flagstar Financial during the second quarter worth about $43,000. Finally, Geneos Wealth Management Inc. purchased a new stake in shares of Flagstar Financial during the first quarter worth about $45,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Flagstar Financial from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Truist Financial boosted their price target on Flagstar Financial from $12.00 to $13.50 and gave the stock a "hold" rating in a research note on Friday, September 12th. Cantor Fitzgerald assumed coverage on Flagstar Financial in a research note on Wednesday, September 10th. They set an "overweight" rating and a $15.00 price target on the stock. DA Davidson restated a "buy" rating and set a $14.50 price target on shares of Flagstar Financial in a research note on Thursday, June 26th. Finally, Stephens restated an "equal weight" rating and set a $12.50 price target on shares of Flagstar Financial in a research note on Thursday, June 12th. Five investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.71.

Flagstar Financial Trading Up 0.2%

Shares of NYSE:FLG opened at $11.98 on Friday. Flagstar Financial, Inc. has a 12-month low of $8.56 and a 12-month high of $13.35. The company has a market capitalization of $4.98 billion, a PE ratio of -7.26 and a beta of 1.17. The business has a 50 day moving average of $12.12 and a two-hundred day moving average of $11.67. 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 (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 net margin of 10.83% and a negative return on equity of 6.60%. The company had revenue of $496.00 million during the quarter, compared to analyst estimates of $524.33 million. Flagstar Financial's revenue was down 26.1% compared to the same quarter last year. As a group, analysts forecast that Flagstar Financial, Inc. will post -0.31 EPS for the current year.

Flagstar Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Sunday, September 7th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Financial's payout ratio is presently -2.42%.

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.

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