Flagstar Bank, National Association (NYSE:FLG) Short Interest Down 39.6% in May

Flagstar Bank, National Association (NYSE:FLG) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 36,435,988 shares, a decline of 39.6% from the May 14th total of 60,349,435 shares. Based on an average daily volume of 3,478,668 shares, the days-to-cover ratio is currently 10.5 days. Currently, 9.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Flagstar Bank, National Association by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after purchasing an additional 467,053 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Flagstar Bank, National Association by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after acquiring an additional 569,003 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after acquiring an additional 6,096,512 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Flagstar Bank, National Association by 4.0% in the 3rd quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock worth $72,669,000 after acquiring an additional 240,119 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Flagstar Bank, National Association by 60.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock worth $58,243,000 after acquiring an additional 1,750,889 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLG. DA Davidson boosted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Royal Bank Of Canada boosted their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $14.00 to $16.00 in a research report on Friday, March 13th. Barclays boosted their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Finally, Truist Financial raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and upped their target price for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $15.67.

Flagstar Bank, National Association Stock Performance

FLG stock traded down $0.13 during midday trading on Tuesday, reaching $14.94. The company had a trading volume of 4,962,062 shares, compared to its average volume of 3,994,247. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The stock has a 50 day moving average price of $14.07 and a 200 day moving average price of $13.40. Flagstar Bank, National Association has a fifty-two week low of $10.38 and a fifty-two week high of $15.37. The firm has a market capitalization of $6.23 billion, a PE ratio of -67.89 and a beta of 1.02.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, April 24th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The company had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. During the same period in the previous year, the firm posted ($0.26) earnings per share. Flagstar Bank, National Association’s quarterly revenue was up 1.6% compared to the same quarter last year. Analysts anticipate that Flagstar Bank, National Association will post 0.46 earnings per share for the current year.

Flagstar Bank, National Association Announces Dividend

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

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.