Cranbrook Wealth Management LLC bought a new position in shares of Flagstar Bank, National Association (NYSE:FLG – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 150,042 shares of the company’s stock, valued at approximately $1,751,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in Flagstar Bank, National Association by 35.4% during the 3rd quarter. D.A. Davidson & CO. now owns 418,150 shares of the company’s stock valued at $4,880,000 after acquiring an additional 109,250 shares during the last quarter. Hourglass Capital LLC lifted its holdings in Flagstar Bank, National Association by 2.1% during the 3rd quarter. Hourglass Capital LLC now owns 240,100 shares of the company’s stock worth $2,802,000 after buying an additional 5,000 shares during the last quarter. Inspire Investing LLC grew its position in shares of Flagstar Bank, National Association by 18.9% in the 3rd quarter. Inspire Investing LLC now owns 54,308 shares of the company’s stock worth $634,000 after acquiring an additional 8,620 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Flagstar Bank, National Association by 57.8% during the third quarter. State of Alaska Department of Revenue now owns 46,401 shares of the company’s stock worth $541,000 after purchasing an additional 16,996 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Flagstar Bank, National Association by 26.0% during the third quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock worth $248,000 after acquiring an additional 4,376 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.
Flagstar Bank, National Association Price Performance
FLG opened at $10.50 on Friday. The stock has a fifty day moving average price of $12.11 and a 200 day moving average price of $13.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.53. Flagstar Bank, National Association has a 1 year low of $9.93 and a 1 year high of $15.44. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 70.00 and a beta of 1.05.
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last posted its earnings results on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. The business had revenue of $530.00 million during the quarter, compared to the consensus estimate of $545.12 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. Analysts forecast that Flagstar Bank, National Association will post 0.15 EPS for the current fiscal year.
Flagstar Bank, National Association announced that its board has approved a share buyback program on Friday, July 24th that allows the company to buy back $250 million in shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Flagstar Bank, National Association Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, December 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Flagstar Bank, National Association’s payout ratio is currently 26.67%.
Insider Activity
In other Flagstar Bank, National Association news, Director Alan L. Frank acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, October 27th. The shares were acquired at an average cost of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the purchase, the director owned 76,463 shares of the company’s stock, valued at approximately $775,334.82. This trade represents a 15.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.42% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $17.00 price objective on shares of Flagstar Bank, National Association in a report on Monday, July 27th. JPMorgan Chase & Co. dropped their price objective on Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, October 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $16.00 price target on shares of Flagstar Bank, National Association in a research report on Tuesday. Citigroup cut their price target on shares of Flagstar Bank, National Association from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. Ten equities research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.54.
Read Our Latest Stock Report on Flagstar Bank, National Association
About Flagstar Bank, National Association
Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.
Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.
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