Flagstar Bank, National Association (NYSE:FLG) Director Buys $101,400.00 in Stock

Flagstar Bank, National Association (NYSE:FLG) Director Alan Frank purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were purchased at an average price of $10.14 per share, with a total value of $101,400.00. Following the acquisition, the director directly owned 76,463 shares in the company, valued at approximately $775,334.82. The trade was a 15.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $10.50 on Friday. The stock has a fifty day simple moving average of $12.11 and a 200-day simple moving average 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. The stock has a market cap of $4.36 billion, a PE ratio of 70.00 and a beta of 1.05. Flagstar Bank, National Association has a twelve month low of $9.93 and a twelve month high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $530.00 million during the quarter, compared to analysts’ expectations of $545.12 million. Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. During the same period last year, the firm posted ($0.07) earnings per share. Equities analysts anticipate that Flagstar Bank, National Association will post 0.15 earnings per share for the current year.

Flagstar Bank, National Association declared that its board has approved a stock buyback program on Friday, July 24th that allows the company to repurchase $250 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, December 7th will be issued a dividend of $0.01 per share. The ex-dividend date 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 dividend payout ratio is 26.67%.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently made changes to their positions in FLG. Engineers Gate Manager LP acquired a new position in Flagstar Bank, National Association in the 2nd quarter valued at $8,480,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Flagstar Bank, National Association by 106.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock valued at $8,049,000 after purchasing an additional 315,691 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Flagstar Bank, National Association by 36.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock worth $21,420,000 after buying an additional 437,939 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Flagstar Bank, National Association by 26.2% in the 1st quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock valued at $4,905,000 after buying an additional 77,292 shares during the period. Finally, Cannell & Spears LLC purchased a new position in Flagstar Bank, National Association in the first quarter worth $1,788,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Flagstar Bank, National Association in a report on Tuesday. Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Truist Financial cut their target price on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Weiss Ratings cut shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Finally, Royal Bank Of Canada reduced their price objective on shares of Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating for the company in a research report on Monday, October 26th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.54.

Flagstar Bank, National Association Company Profile

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.