Insider Buying: Flagstar Bank, National Association (NYSE:FLG) CEO Buys 47,324 Shares of Stock

Flagstar Bank, National Association (NYSE:FLG) CEO Joseph Otting purchased 47,324 shares of the stock in a transaction on Tuesday, November 10th. The shares were purchased at an average price of $10.49 per share, with a total value of $496,428.76. Following the acquisition, the chief executive officer owned 1,088,823 shares in the company, valued at approximately $11,421,753.27. The trade was a 4.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Flagstar Bank, National Association Trading Down 0.7%

Shares of NYSE FLG traded down $0.07 during midday trading on Thursday, reaching $10.38. The stock had a trading volume of 6,377,542 shares, compared to its average volume of 5,194,663. The company’s 50 day moving average price is $11.66 and its 200 day moving average price is $13.34. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.91. Flagstar Bank, National Association has a twelve month low of $9.93 and a twelve month high of $15.44. The firm has a market cap of $4.13 billion, a price-to-earnings ratio of 69.17 and a beta of 1.10.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. The firm had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, sell-side analysts expect that Flagstar Bank, National Association will post 0.13 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, December 7th will be issued a $0.01 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.04 annualized dividend and a yield of 0.4%. Flagstar Bank, National Association’s payout ratio is presently 26.67%.

Flagstar Bank, National Association announced that its Board of Directors has approved a share buyback plan on Friday, July 24th that permits the company to buy back $250 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Share buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FLG. Truist Financial decreased their price target on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday, October 26th. Weiss Ratings cut Flagstar Bank, National Association from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating for the company in a 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 note on Tuesday, October 27th. Finally, Morgan Stanley lowered Flagstar Bank, National Association from an “overweight” rating to an “underweight” rating and dropped their price target for the company from $15.00 to $12.00 in a research note on Wednesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.12.

Institutional Investors Weigh In On Flagstar Bank, National Association

Large investors have recently bought and sold shares of the stock. AlphaGrep UK Ltd bought a new stake in Flagstar Bank, National Association in the third quarter valued at $224,000. Angel Oak Capital Advisors LLC boosted its position in shares of Flagstar Bank, National Association by 80.0% during the 3rd quarter. Angel Oak Capital Advisors LLC now owns 45,000 shares of the company’s stock worth $525,000 after purchasing an additional 20,000 shares in the last quarter. Boston Partners boosted its position in shares of Flagstar Bank, National Association by 2,688.6% during the 3rd quarter. Boston Partners now owns 2,875,776 shares of the company’s stock worth $33,559,000 after purchasing an additional 2,772,648 shares in the last quarter. Financial Freedom LLC bought a new position in shares of Flagstar Bank, National Association during the 3rd quarter worth about $34,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Flagstar Bank, National Association by 229.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,024,153 shares of the company’s stock valued at $11,952,000 after buying an additional 713,118 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service bank serving consumers, businesses and communities. Its offerings include checking and savings accounts, residential mortgages and other home-financing products, as well as business and commercial real estate lending. The bank also provides services such as cash management and other banking solutions for businesses. Its retail banking presence is concentrated in parts of the Northeast and Midwest, while its mortgage and commercial banking activities extend beyond its branch network.