Summit Investment Advisors Inc. Buys New Shares in Flagstar Bank, National Association $FLG

Summit Investment Advisors Inc. bought a new position in shares of Flagstar Bank, National Association (NYSE:FLG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 85,316 shares of the company’s stock, valued at approximately $991,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Liberty 77 Capital L.P. acquired a new position in shares of Flagstar Bank, National Association during the 1st quarter worth about $871,500,000. Reverence Capital Partners L.P. bought a new position in Flagstar Bank, National Association during the first quarter worth about $418,101,000. Vanguard Group Inc. bought a new position in Flagstar Bank, National Association during the first quarter worth about $378,161,000. T. Rowe Price Investment Management Inc. acquired a new position in Flagstar Bank, National Association during the first quarter worth approximately $76,911,000. Finally, Azora Capital LP bought a new stake in Flagstar Bank, National Association in the first quarter valued at approximately $74,133,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Trading Up 1.1%

Shares of Flagstar Bank, National Association stock opened at $11.03 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a 50-day moving average of $11.78 and a 200-day moving average of $11.76. Flagstar Bank, National Association has a 52-week low of $8.56 and a 52-week high of $13.35. The stock has a market cap of $4.59 billion, a PE ratio of -11.37 and a beta of 1.19.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) EPS for the quarter. The business had revenue of $498.00 million for the quarter. Flagstar Bank, National Association had a negative return on equity of 3.80% and a negative net margin of 7.06%. As a group, sell-side analysts forecast that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Sunday, December 7th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, December 5th. Flagstar Bank, National Association’s payout ratio is presently -4.12%.

Analyst Ratings Changes

Several brokerages have recently commented on FLG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Wednesday, October 8th. Citigroup lifted their price objective on shares of Flagstar Bank, National Association from $15.50 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Cantor Fitzgerald initiated coverage on shares of Flagstar Bank, National Association in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $15.00 price objective on the stock. TD Cowen assumed coverage on shares of Flagstar Bank, National Association in a research note on Thursday, September 25th. They set a “hold” rating and a $14.00 target price for the company. Finally, Truist Financial upped their price target on shares of Flagstar Bank, National Association from $12.00 to $13.50 and gave the company a “hold” rating in a research note on Friday, September 12th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Flagstar Bank, National Association has an average rating of “Hold” and a consensus target price of $13.88.

Flagstar Bank, National Association Profile

Flagstar Financial, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company’s deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.