Geode Capital Management LLC Raises Holdings in Flagstar Bank, National Association $FLG

Geode Capital Management LLC lifted its holdings in shares of Flagstar Bank, National Association (NYSE:FLG) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,487,034 shares of the company’s stock after purchasing an additional 467,053 shares during the period. Geode Capital Management LLC’s holdings in Flagstar Bank, National Association were worth $94,277,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Flagstar Bank, National Association during the fourth quarter worth approximately $34,000. Ameritas Advisory Services LLC acquired a new stake in Flagstar Bank, National Association during the third quarter worth approximately $33,000. Advisory Services Network LLC acquired a new stake in Flagstar Bank, National Association during the third quarter worth approximately $35,000. Clayton Financial Group LLC acquired a new stake in Flagstar Bank, National Association during the fourth quarter worth approximately $42,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Flagstar Bank, National Association during the first quarter worth approximately $45,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Stock Performance

NYSE:FLG opened at $14.01 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The company has a market cap of $5.84 billion, a P/E ratio of -63.66 and a beta of 1.02. Flagstar Bank, National Association has a fifty-two week low of $10.38 and a fifty-two week high of $14.92. The firm’s 50 day moving average is $13.88 and its two-hundred day moving average is $13.23.

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

Flagstar Bank, National Association Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLG. Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Tuesday, April 21st. Citigroup raised their target price on shares of Flagstar Bank, National Association from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada raised 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. Morgan Stanley raised their target price on shares of Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, Barclays raised their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.42.

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.