Flagstar Bank, National Association (NYSE:FLG) CEO Purchases $496,428.76 in Stock

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

Flagstar Bank, National Association Price Performance

Shares of FLG traded down $0.07 during trading hours 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. Flagstar Bank, National Association has a 12 month low of $9.93 and a 12 month high of $15.44. The stock has a market capitalization of $4.13 billion, a PE ratio of 69.17 and a beta of 1.10. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.91. The company’s 50-day moving average is $11.66 and its two-hundred day moving average is $13.34.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $545.12 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. Research 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 declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Monday, December 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 0.4%. The ex-dividend date of this dividend is Monday, December 7th. Flagstar Bank, National Association’s dividend payout ratio (DPR) 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 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

Several analysts have recently weighed in on the company. TD Cowen reduced their price target on Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Raymond James Financial started coverage on shares of Flagstar Bank, National Association in a report on Wednesday, September 2nd. They issued a “market perform” rating for the company. Morgan Stanley downgraded shares of Flagstar Bank, National Association from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $15.00 to $12.00 in a research report on Wednesday, November 4th. DA Davidson reissued a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a report on Monday, July 27th. Finally, Truist Financial reduced their target price on shares of Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FLG. Empowered Funds LLC grew its position in shares of Flagstar Bank, National Association by 4.0% in the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock valued at $386,000 after buying an additional 1,117 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Flagstar Bank, National Association by 0.5% during the first quarter. D.A. Davidson & CO. now owns 278,650 shares of the company’s stock worth $3,670,000 after acquiring an additional 1,400 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Flagstar Bank, National Association by 2.0% during the first quarter. State of Michigan Retirement System now owns 72,095 shares of the company’s stock worth $949,000 after acquiring an additional 1,400 shares during the last quarter. Mirador Capital Partners LP raised its position in shares of Flagstar Bank, National Association by 1.8% during the second quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,571 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Flagstar Bank, National Association by 114.0% in the second quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after acquiring an additional 1,605 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

About Flagstar Bank, National Association

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.