Intech Investment Management LLC lessened its stake in Flagstar Bank, National Association (NYSE:FLG – Free Report) by 59.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 117,964 shares of the company’s stock after selling 176,058 shares during the quarter. Intech Investment Management LLC’s holdings in Flagstar Bank, National Association were worth $1,485,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of Flagstar Bank, National Association in the 3rd quarter valued at about $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at about $34,000. Advisory Services Network LLC acquired a new stake in shares of Flagstar Bank, National Association during the 3rd quarter worth about $35,000. Clayton Financial Group LLC purchased a new stake in Flagstar Bank, National Association during the fourth quarter worth approximately $42,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Flagstar Bank, National Association during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on FLG. Piper Sandler boosted their target price on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Royal Bank Of Canada boosted their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, April 27th. Barclays boosted their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods upgraded Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $16.00 in a research note on Friday, March 13th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.42.
Flagstar Bank, National Association Trading Down 0.7%
FLG opened at $14.01 on Friday. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -63.66 and a beta of 1.02. Flagstar Bank, National Association has a 52 week low of $10.38 and a 52 week high of $14.92. The business’s 50 day moving average is $13.88 and its two-hundred day moving average is $13.23. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47.
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last released its quarterly earnings results on Friday, April 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) earnings per share. On average, research analysts predict that Flagstar Bank, National Association will post 0.47 EPS for the current year.
Flagstar Bank, National Association Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Sunday, June 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association’s payout ratio is -18.18%.
Flagstar Bank, National Association Profile
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
- Five stocks we like better than Flagstar Bank, National Association
- AI Server Earnings: Wall Street Sees One Clear Standout
- Navitas: NVIDIA’s AI Power Broker?
- A Lulu of a Miss Sends Lululemon to New Lows—Look Out Below
- NVIDIA’s New Power Play: Why Fluence Is Surging
Want to see what other hedge funds are holding FLG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flagstar Bank, National Association (NYSE:FLG – Free Report).
Receive News & Ratings for Flagstar Bank National Association Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bank National Association and related companies with MarketBeat.com's FREE daily email newsletter.
