Flagstar Bank, National Association $FLG Position Boosted by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its position in Flagstar Bank, National Association (NYSE:FLG) by 106.8% in the first quarter, Holdings Channel reports. The firm owned 611,191 shares of the company’s stock after purchasing an additional 315,691 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Flagstar Bank, National Association were worth $8,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Caxton Associates LLP lifted its holdings in Flagstar Bank, National Association by 83.8% during the 1st quarter. Caxton Associates LLP now owns 25,414 shares of the company’s stock worth $335,000 after buying an additional 11,588 shares during the last quarter. State of Wyoming raised its position in shares of Flagstar Bank, National Association by 21,075.6% during the 1st quarter. State of Wyoming now owns 27,740 shares of the company’s stock valued at $365,000 after acquiring an additional 27,609 shares in the last quarter. Signature Equity Partners LLC bought a new position in Flagstar Bank, National Association during the first quarter worth $74,000. Dimensional Fund Advisors LP lifted its stake in Flagstar Bank, National Association by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after purchasing an additional 569,003 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Flagstar Bank, National Association by 0.5% in the first quarter. Swiss National Bank now owns 617,302 shares of the company’s stock worth $8,130,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Up 1.2%

Flagstar Bank, National Association stock opened at $13.92 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 0.97. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The company has a 50-day simple moving average of $14.53 and a 200-day simple moving average of $13.83. The firm has a market capitalization of $5.80 billion, a P/E ratio of 464.13 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. As a group, equities analysts expect that Flagstar Bank, National Association will post 0.38 earnings per share for the current year.

Flagstar Bank, National Association declared that its Board of Directors has initiated a share repurchase program on Friday, July 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be paid a $0.01 dividend. The ex-dividend date is Friday, September 4th. 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 133.33%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research note on Friday, June 26th. Royal Bank Of Canada lowered their price objective on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Monday. TD Cowen dropped their price objective on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group assumed coverage on Flagstar Bank, National Association in a research report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average price target of $16.79.

More Flagstar Bank, National Association News

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Brokerages set an average price target of $16.96 for FLG, implying meaningful upside from recent trading levels and signaling that analysts generally see longer-term value in the shares. Flagstar Bank, National Association Receives $16.96 Average PT from Brokerages
• Positive Sentiment: DA Davidson reaffirmed its Buy rating and maintained a $17 price target. The firm’s continued bullish view may help support the stock following the earnings-related selloff. DA Davidson Reaffirms Buy Rating
• Positive Sentiment: Flagstar declared a quarterly cash dividend of $0.01 per common share, payable September 17 to shareholders of record September 7. Although the approximately 0.3% yield is modest, the payment reinforces the bank’s shareholder-return policy. Flagstar Declares Quarterly Cash Dividends
• Neutral Sentiment: TD Cowen lowered its price target to $17 from $18 but kept a Buy rating, while Royal Bank of Canada reduced its target to $15 from $16 and maintained a Sector Perform rating. The revisions reflect more cautious valuation assumptions but still indicate targets above the recent share price. Analyst Price Target Changes
• Negative Sentiment: Second-quarter earnings missed expectations: Flagstar reported $0.05 in EPS versus a $0.06 consensus estimate, while revenue of $512 million fell short of the $539.34 million forecast. Lower fee income drove the disappointment, although higher net interest income, reduced expenses and lower credit provisions provided partial offsets. Flagstar Bank Shares Down on Q2 Earnings Miss

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.