Geode Capital Management LLC Increases Stock Position in Flagstar Bank, National Association $FLG

Geode Capital Management LLC raised its holdings in Flagstar Bank, National Association (NYSE:FLG) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,487,034 shares of the company’s stock after purchasing an additional 467,053 shares during the quarter. Geode Capital Management LLC owned 1.80% of Flagstar Bank, National Association worth $94,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in FLG. AQR Capital Management LLC purchased a new stake in Flagstar Bank, National Association in the 1st quarter valued at approximately $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at approximately $1,754,000. Goldman Sachs Group Inc. acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at approximately $21,022,000. United Services Automobile Association acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at approximately $219,000. Finally, Empowered Funds LLC acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at approximately $516,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Trading Down 0.7%

Shares of FLG opened at $14.01 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $13.88 and a 200-day simple moving average of $13.23. Flagstar Bank, National Association has a 1-year low of $10.38 and a 1-year high of $14.92. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of -63.66 and a beta of 1.02.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data 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. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The business had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same period last year, the company posted ($0.26) EPS. The company’s revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Flagstar Bank, National Association will post 0.46 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on FLG. DA Davidson lifted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Royal Bank Of Canada lifted their price target on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods upgraded shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $14.00 to $16.00 in a research report on Friday, March 13th. Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Truist Financial upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.42.

Flagstar Bank, National Association Profile

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.