Flagstar Bank, National Association $FLG Stock Position Cut by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 32,400,127 shares of the company’s stock after selling 399,560 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Flagstar Bank, National Association worth $374,221,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FLG. JPMorgan Chase & Co. boosted its holdings in shares of Flagstar Bank, National Association by 310.8% in the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after acquiring an additional 2,894,424 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Flagstar Bank, National Association by 12.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 180,260 shares of the company’s stock worth $2,082,000 after purchasing an additional 19,986 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Flagstar Bank, National Association in the third quarter worth approximately $33,000. ProShare Advisors LLC boosted its stake in Flagstar Bank, National Association by 70.8% during the 3rd quarter. ProShare Advisors LLC now owns 129,418 shares of the company’s stock valued at $1,495,000 after purchasing an additional 53,644 shares in the last quarter. Finally, Old West Investment Management LLC acquired a new position in shares of Flagstar Bank, National Association during the 3rd quarter valued at $3,124,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Flagstar Bank, National Association Price Performance

NYSE FLG opened at $13.54 on Friday. The stock’s 50-day moving average price is $13.25 and its two-hundred day moving average price is $12.44. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market cap of $5.63 billion, a PE ratio of -26.55 and a beta of 1.10. Flagstar Bank, National Association has a 1 year low of $9.64 and a 1 year high of $14.53.

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

Flagstar Bank, National Association Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FLG shares. JPMorgan Chase & Co. boosted their price objective on Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. DA Davidson reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Flagstar Bank, National Association in a research note on Tuesday. Barclays boosted their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Cantor Fitzgerald increased their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.46.

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.