D.A. Davidson & CO. Purchases 109,250 Shares of Flagstar Bank, National Association $FLG

D.A. Davidson & CO. lifted its position in shares of Flagstar Bank, National Association (NYSE:FLG) by 35.4% during the third quarter, HoldingsChannel reports. The firm owned 418,150 shares of the company’s stock after buying an additional 109,250 shares during the quarter. D.A. Davidson & CO.’s holdings in Flagstar Bank, National Association were worth $4,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hourglass Capital LLC grew its holdings in shares of Flagstar Bank, National Association by 2.1% in the 3rd quarter. Hourglass Capital LLC now owns 240,100 shares of the company’s stock valued at $2,802,000 after buying an additional 5,000 shares during the period. Inspire Investing LLC increased its position in shares of Flagstar Bank, National Association by 18.9% in the 3rd quarter. Inspire Investing LLC now owns 54,308 shares of the company’s stock valued at $634,000 after buying an additional 8,620 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Flagstar Bank, National Association by 57.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 46,401 shares of the company’s stock worth $541,000 after buying an additional 16,996 shares during the period. Farther Finance Advisors LLC raised its stake in Flagstar Bank, National Association by 26.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock worth $248,000 after buying an additional 4,376 shares during the period. Finally, Core Capital Management & Research inc. acquired a new stake in Flagstar Bank, National Association during the 2nd quarter worth $50,000. 67.88% of the stock is owned by institutional investors.

Flagstar Bank, National Association Stock Up 0.3%

FLG stock opened at $10.50 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $4.36 billion, a P/E ratio of 70.00 and a beta of 1.05. The business has a 50-day moving average of $12.11 and a 200-day moving average of $13.43. Flagstar Bank, National Association has a fifty-two week low of $9.93 and a fifty-two week high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. The firm had revenue of $530.00 million during the quarter, compared to analyst estimates of $545.12 million. During the same period in the prior year, the business posted ($0.07) EPS. On average, sell-side analysts anticipate that Flagstar Bank, National Association will post 0.15 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, December 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Flagstar Bank, National Association’s dividend payout ratio is 26.67%.

Flagstar Bank, National Association announced that its Board of Directors has approved a share buyback program on Friday, July 24th that allows the company to buy back $250 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Share repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

FLG has been the topic of several recent analyst reports. Barclays reduced their target price on Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Morgan Stanley lowered their price target on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Truist Financial dropped their price target on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. UBS Group dropped their price target on Flagstar Bank, National Association from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Finally, DA Davidson reiterated a “buy” rating and set a $17.00 price objective on shares of Flagstar Bank, National Association in a report on Monday, July 27th. Ten investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.54.

Insiders Place Their Bets

In other Flagstar Bank, National Association news, Director Alan L. Frank purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was bought at an average cost of $10.14 per share, with a total value of $101,400.00. Following the purchase, the director directly owned 76,463 shares of the company’s stock, valued at $775,334.82. The trade was a 15.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 21.42% of the stock is currently owned by company insiders.

Flagstar Bank, National Association Profile

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.