TD Asset Management Inc Boosts Stake in Flagstar Bank, National Association $FLG

TD Asset Management Inc increased its holdings in shares of Flagstar Bank, National Association (NYSE:FLG) by 134.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 155,084 shares of the company’s stock after acquiring an additional 88,890 shares during the period. TD Asset Management Inc’s holdings in Flagstar Bank, National Association were worth $1,791,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Flagstar Bank, National Association during the 2nd quarter worth approximately $31,502,000. Amalgamated Bank purchased a new stake in Flagstar Bank, National Association in the 2nd quarter worth $1,394,000. Old West Investment Management LLC acquired a new position in Flagstar Bank, National Association during the third quarter worth $3,124,000. JPMorgan Chase & Co. lifted its holdings in Flagstar Bank, National Association by 310.8% during the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after purchasing an additional 2,894,424 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Flagstar Bank, National Association by 28.0% during the third quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock valued at $2,131,000 after purchasing an additional 40,374 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Trading Down 1.7%

Shares of Flagstar Bank, National Association stock opened at $12.78 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.92 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $13.23 and its 200-day simple moving average is $12.47. The stock has a market cap of $5.32 billion, a P/E ratio of -25.06 and a beta of 1.08. 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 quarterly earnings data on Friday, January 30th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $548.00 million for the quarter, compared to the consensus estimate 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 firm’s revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) earnings per share. Analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on FLG. JPMorgan Chase & Co. upped their price target on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. DA Davidson reiterated a “buy” rating and set a $16.00 price objective on shares of Flagstar Bank, National Association in a research note on Tuesday, February 24th. Royal Bank Of Canada raised their target price on Flagstar Bank, National Association from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday, February 2nd. Morgan Stanley lifted their price target on Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Barclays increased their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Flagstar Bank, National Association presently has an average rating of “Hold” and a consensus target price of $14.62.

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.