Elevated Capital Advisors LLC lessened its stake in shares of Flagstar Bank, National Association (NYSE:FLG – Free Report) by 92.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,842 shares of the company’s stock after selling 49,557 shares during the period. Elevated Capital Advisors LLC’s holdings in Flagstar Bank, National Association were worth $51,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. DV Equities LLC bought a new position in Flagstar Bank, National Association in the 4th quarter worth about $25,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of Flagstar Bank, National Association during the fourth quarter valued at about $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth $34,000. Advisory Services Network LLC purchased a new stake in shares of Flagstar Bank, National Association during the third quarter worth about $35,000. Finally, Clayton Financial Group LLC purchased a new stake in Flagstar Bank, National Association during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.
Flagstar Bank, National Association Trading Up 2.1%
NYSE:FLG traded up $0.32 during trading hours on Friday, hitting $15.09. The company had a trading volume of 2,573,948 shares, compared to its average volume of 5,314,820. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.36. The company has a market cap of $6.29 billion, a P/E ratio of -68.57 and a beta of 1.01. The company has a 50-day moving average of $14.34 and a 200 day moving average of $13.66. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47.
Flagstar Bank, National Association Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Sunday, June 7th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is -18.18%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on FLG shares. Truist Financial raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Piper Sandler raised their target price on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. upped their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. TD Cowen upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their target price for the company from $15.00 to $18.00 in a research report on Monday, July 6th. Finally, UBS Group initiated coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.88.
Read Our Latest Analysis on Flagstar Bank, National Association
About Flagstar Bank, National Association
Flagstar Financial Corporation (NYSE: FLG) is a bank holding company whose principal subsidiary, Flagstar Bank, provides a range of financial services across the United States. Headquartered in Troy, Michigan, Flagstar combines commercial banking, mortgage lending and servicing, and deposit products to serve individuals, businesses and public entities. As a publicly traded company, Flagstar leverages its banking charter and national mortgage platform to deliver tailored financial solutions through both digital and branch channels.
The company’s mortgage business is one of the largest residential originators and servicers in the nation, offering retail, wholesale and correspondent lending channels.
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