Vanguard Group Inc. Trims Holdings in Flagstar Bank, National Association $FLG

Vanguard Group Inc. lowered its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,400,127 shares of the company’s stock after selling 399,560 shares during the quarter. Vanguard Group Inc. owned approximately 7.80% of Flagstar Bank, National Association worth $374,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Balefire LLC grew its holdings in Flagstar Bank, National Association by 1.6% during the 3rd quarter. Balefire LLC now owns 58,703 shares of the company’s stock worth $678,000 after acquiring an additional 909 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Flagstar Bank, National Association by 1.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 61,131 shares of the company’s stock valued at $648,000 after purchasing an additional 1,010 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Flagstar Bank, National Association by 5.3% during the third quarter. TD Waterhouse Canada Inc. now owns 23,036 shares of the company’s stock worth $270,000 after purchasing an additional 1,168 shares during the last quarter. Arizona State Retirement System grew its stake in Flagstar Bank, National Association by 1.5% in the third quarter. Arizona State Retirement System now owns 92,120 shares of the company’s stock worth $1,064,000 after purchasing an additional 1,346 shares in the last quarter. Finally, CWM LLC grew its stake in Flagstar Bank, National Association by 53.2% in the third quarter. CWM LLC now owns 4,075 shares of the company’s stock worth $47,000 after purchasing an additional 1,415 shares in the last quarter. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLG. UBS Group cut their price objective on Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Cantor Fitzgerald upped their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. JPMorgan Chase & Co. raised 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 report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.46.

Flagstar Bank, National Association Stock Performance

FLG opened at $13.54 on Friday. The business’s 50 day moving average is $13.25 and its 200-day moving average is $12.44. The stock has a market cap of $5.63 billion, a PE ratio of -26.55 and a beta of 1.10. 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 twelve month low of $9.64 and a twelve month high of $14.53.

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

Flagstar Bank, National Association Announces Dividend

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

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.