Envestnet Asset Management Inc. Has $1.60 Million Stock Position in Flagstar Bank, National Association $FLG

Envestnet Asset Management Inc. lifted its stake in Flagstar Bank, National Association (NYSE:FLG) by 43.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,719 shares of the company’s stock after purchasing an additional 42,310 shares during the period. Envestnet Asset Management Inc.’s holdings in Flagstar Bank, National Association were worth $1,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC bought a new position in Flagstar Bank, National Association during the second quarter worth about $28,000. Financial Freedom LLC acquired a new position in Flagstar Bank, National Association during the second quarter valued at approximately $31,000. Geneos Wealth Management Inc. bought a new stake in Flagstar Bank, National Association in the first quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in Flagstar Bank, National Association in the second quarter worth $47,000. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Flagstar Bank, National Association by 115.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,900 shares of the company’s stock worth $63,000 after purchasing an additional 3,166 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FLG shares. JPMorgan Chase & Co. lifted their price objective on Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. DA Davidson restated a “buy” rating and set a $16.00 target price on shares of Flagstar Bank, National Association in a report on Tuesday, February 24th. Citigroup upped their price target on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada raised their price objective on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.46.

Flagstar Bank, National Association Stock Down 6.6%

Shares of FLG stock opened at $12.65 on Friday. The firm’s fifty day moving average price is $13.24 and its two-hundred day moving average price is $12.45. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Flagstar Bank, National Association has a 1 year low of $9.64 and a 1 year high of $14.53. The firm has a market capitalization of $5.26 billion, a P/E ratio of -24.81 and a beta of 1.10.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The company had revenue of $548.00 million during the quarter, compared to analysts’ expectations of $533.00 million. During the same quarter last year, the company earned ($0.41) EPS. Flagstar Bank, National Association’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Saturday, March 7th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, March 6th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is currently -7.84%.

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.