Flagstar Bank, National Association $FLG Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Flagstar Bank, National Association (NYSE:FLGFree Report) by 106.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 611,191 shares of the company’s stock after purchasing an additional 315,691 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.15% of Flagstar Bank, National Association worth $8,049,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FLG. DV Equities LLC acquired a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth $34,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter worth $34,000. Advisory Services Network LLC purchased a new position in shares of Flagstar Bank, National Association in the 3rd quarter worth $35,000. Finally, Clayton Financial Group LLC purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Trading Up 1.2%

FLG opened at $13.92 on Wednesday. The firm’s 50 day moving average is $14.53 and its 200-day moving average is $13.83. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $5.80 billion, a P/E ratio of 464.13 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLGGet Free Report) last released its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $512.00 million for the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. Flagstar Bank, National Association’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) earnings per share. Analysts expect that Flagstar Bank, National Association will post 0.38 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, September 7th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is currently 133.33%.

Flagstar Bank, National Association announced that its board has authorized a share repurchase program on Friday, July 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Key Stories Impacting Flagstar Bank, National Association

Here are the key news stories impacting Flagstar Bank, National Association this week:

  • Positive Sentiment: Brokerages set an average price target of $16.96 for FLG, implying meaningful upside from recent trading levels and signaling that analysts generally see longer-term value in the shares. Flagstar Bank, National Association Receives $16.96 Average PT from Brokerages
  • Positive Sentiment: DA Davidson reaffirmed its Buy rating and maintained a $17 price target. The firm’s continued bullish view may help support the stock following the earnings-related selloff. DA Davidson Reaffirms Buy Rating
  • Positive Sentiment: Flagstar declared a quarterly cash dividend of $0.01 per common share, payable September 17 to shareholders of record September 7. Although the approximately 0.3% yield is modest, the payment reinforces the bank’s shareholder-return policy. Flagstar Declares Quarterly Cash Dividends
  • Neutral Sentiment: TD Cowen lowered its price target to $17 from $18 but kept a Buy rating, while Royal Bank of Canada reduced its target to $15 from $16 and maintained a Sector Perform rating. The revisions reflect more cautious valuation assumptions but still indicate targets above the recent share price. Analyst Price Target Changes
  • Negative Sentiment: Second-quarter earnings missed expectations: Flagstar reported $0.05 in EPS versus a $0.06 consensus estimate, while revenue of $512 million fell short of the $539.34 million forecast. Lower fee income drove the disappointment, although higher net interest income, reduced expenses and lower credit provisions provided partial offsets. Flagstar Bank Shares Down on Q2 Earnings Miss

Analyst Ratings Changes

A number of equities research analysts have issued reports on FLG shares. TD Cowen lowered their price target on Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler raised their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. Truist Financial upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.50 to $17.00 in a report on Tuesday, April 7th. JPMorgan Chase & Co. raised their price target on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Barclays lifted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.79.

Read Our Latest Stock Analysis on FLG

Flagstar Bank, National Association Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Flagstar Bank, National Association (NYSE:FLG)

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