ProShare Advisors LLC Has $1.50 Million Holdings in Flagstar Bank, National Association $FLG

ProShare Advisors LLC lifted its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 70.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,418 shares of the company’s stock after acquiring an additional 53,644 shares during the period. ProShare Advisors LLC’s holdings in Flagstar Bank, National Association were worth $1,495,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Flagstar Bank, National Association by 9.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,462,877 shares of the company’s stock worth $79,116,000 after purchasing an additional 641,117 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after purchasing an additional 6,096,512 shares in the last quarter. Private Management Group Inc. lifted its holdings in shares of Flagstar Bank, National Association by 0.4% in the second quarter. Private Management Group Inc. now owns 3,082,003 shares of the company’s stock valued at $32,669,000 after purchasing an additional 12,371 shares in the last quarter. Norges Bank acquired a new position in shares of Flagstar Bank, National Association during the second quarter worth about $31,502,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Flagstar Bank, National Association during the second quarter worth about $23,059,000. 67.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FLG shares. JPMorgan Chase & Co. boosted their target price on Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. DA Davidson boosted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada raised their target price on shares of 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. UBS Group cut their price target on shares of Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods raised their price objective on Flagstar Bank, National Association from $13.50 to $14.00 and gave the company a “market perform” rating in a report on Monday, February 2nd. Five investment 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, Flagstar Bank, National Association currently has an average rating of “Hold” and a consensus price target of $14.46.

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $14.16 on Friday. The firm has a market capitalization of $5.89 billion, a P/E ratio of -27.77 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. The firm’s fifty day moving average price is $13.13 and its two-hundred day moving average price is $12.30. 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, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $548.00 million during the quarter, compared to the consensus estimate of $533.00 million. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. The company’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) EPS. As a group, research analysts anticipate that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date is Friday, March 6th. Flagstar Bank, National Association’s payout ratio is currently -7.84%.

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.