Sei Investments Co. Trims Holdings in Flagstar Bank, National Association $FLG

Sei Investments Co. lowered its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 42.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 143,593 shares of the company’s stock after selling 107,024 shares during the period. Sei Investments Co.’s holdings in Flagstar Bank, National Association were worth $1,891,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in Flagstar Bank, National Association in the first quarter valued at approximately $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Flagstar Bank, National Association during the first quarter worth $1,754,000. Goldman Sachs Group Inc. purchased a new position in shares of Flagstar Bank, National Association during the first quarter worth $21,022,000. United Services Automobile Association purchased a new position in shares of Flagstar Bank, National Association during the first quarter worth $219,000. Finally, Empowered Funds LLC acquired a new stake in shares of Flagstar Bank, National Association in the first quarter valued at $516,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock opened at $13.98 on Monday. The firm has a 50 day moving average of $14.58 and a two-hundred day moving average of $13.90. The stock has a market capitalization of $5.83 billion, a PE ratio of 466.17 and a beta of 1.01. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, July 24th. The company reported $0.05 earnings per share (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 was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, research analysts predict that Flagstar Bank, National Association will post 0.35 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its Board of Directors has approved a share buyback program on Friday, July 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be given 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 (DPR) is currently 133.33%.

Analysts Set New Price Targets

Several research firms recently issued reports on FLG. Cantor Fitzgerald boosted their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Royal Bank Of Canada lowered their target price on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Monday, July 27th. Weiss Ratings downgraded Flagstar Bank, National Association from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. Piper Sandler boosted their price target on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, DA Davidson reiterated a “buy” rating and set a $17.00 price target on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.79.

Flagstar Bank, National Association Company 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.