Short Interest in Flagstar Bank, National Association (NYSE:FLG) Declines By 39.6%

Flagstar Bank, National Association (NYSE:FLG) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 36,435,988 shares, a decline of 39.6% from the May 14th total of 60,349,435 shares. Approximately 9.3% of the shares of the company are sold short. Based on an average daily volume of 3,478,668 shares, the days-to-cover ratio is currently 10.5 days.

Institutional Trading of Flagstar Bank, National Association

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

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $14.94 on Wednesday. The firm’s 50 day simple moving average is $14.07 and its 200 day simple moving average is $13.40. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of -67.89 and a beta of 1.02. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. Flagstar Bank, National Association has a 1 year low of $10.38 and a 1 year high of $15.37.

Flagstar Bank, National Association (NYSE:FLG) last released its earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The firm had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that Flagstar Bank, National Association will post 0.46 earnings per share for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Sunday, June 7th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Bank, National Association’s payout ratio is -18.18%.

Analyst Upgrades and Downgrades

FLG has been the topic of several recent research reports. Truist Financial upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price objective for the stock from $13.50 to $17.00 in a research report on Tuesday, April 7th. DA Davidson raised their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Barclays boosted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada increased their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Hold” and a consensus price target of $15.67.

About Flagstar Bank, National Association

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.