WINTON GROUP Ltd lowered its holdings in shares of Flagstar Bank, National Association (NYSE:FLG – Free Report) by 34.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,821 shares of the company’s stock after selling 55,918 shares during the period. WINTON GROUP Ltd’s holdings in Flagstar Bank, National Association were worth $1,611,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in shares of Flagstar Bank, National Association in the first quarter valued at about $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flagstar Bank, National Association during the first quarter worth about $1,754,000. Goldman Sachs Group Inc. acquired a new position in Flagstar Bank, National Association in the 1st quarter valued at about $21,022,000. United Services Automobile Association acquired a new position in Flagstar Bank, National Association in the 1st quarter valued at about $219,000. Finally, Empowered Funds LLC purchased a new stake in Flagstar Bank, National Association during the 1st quarter valued at approximately $516,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on FLG. Barclays increased their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. UBS Group assumed coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target for the company. Weiss Ratings raised Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, September 4th. Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. Finally, TD Cowen dropped their price objective on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.96.
Flagstar Bank, National Association Stock Performance
NYSE:FLG opened at $13.19 on Friday. The firm’s fifty day simple moving average is $14.08 and its 200-day simple moving average is $13.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. The stock has a market cap of $5.47 billion, a PE ratio of 439.50 and a beta of 0.99. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44.
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $512.00 million during 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%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. Analysts expect that Flagstar Bank, National Association will post 0.34 earnings per share for the current fiscal year.
Flagstar Bank, National Association Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, September 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio (DPR) is presently 133.33%.
Flagstar Bank, National Association announced that its board has authorized a share repurchase program on Friday, July 24th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
About Flagstar Bank, National Association
Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.
The bank also has a significant mortgage business, including home-loan origination, servicing and related products.
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