Handelsbanken Fonder AB Makes New Investment in Flagstar Bank, National Association $FLG

Handelsbanken Fonder AB bought a new stake in Flagstar Bank, National Association (NYSE:FLG) in the second quarter, HoldingsChannel reports. The fund bought 68,500 shares of the company’s stock, valued at approximately $726,000.

Several other hedge funds also recently modified their holdings of FLG. Nomura Asset Management Co. Ltd. raised its holdings in Flagstar Bank, National Association by 115.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,900 shares of the company’s stock worth $63,000 after acquiring an additional 3,166 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Flagstar Bank, National Association by 1.7% in the second quarter. Rockefeller Capital Management L.P. now owns 61,131 shares of the company’s stock valued at $648,000 after purchasing an additional 1,010 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Flagstar Bank, National Association by 25.2% during the 2nd quarter. Intech Investment Management LLC now owns 276,063 shares of the company’s stock worth $2,926,000 after purchasing an additional 55,579 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Flagstar Bank, National Association by 6.0% in the 2nd quarter. Cetera Investment Advisers now owns 80,730 shares of the company’s stock valued at $856,000 after buying an additional 4,555 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Flagstar Bank, National Association by 2.8% in the second quarter. Creative Planning now owns 57,414 shares of the company’s stock valued at $609,000 after buying an additional 1,557 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock opened at $12.20 on Friday. Flagstar Bank, National Association has a 52 week low of $8.56 and a 52 week high of $13.35. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of -12.58 and a beta of 1.19. The company has a 50-day simple moving average of $11.51 and a 200 day simple moving average of $11.71. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.01 and a current ratio of 1.02.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter. Flagstar Bank, National Association had a negative return on equity of 3.80% and a negative net margin of 7.06%.The company had revenue of $498.00 million for the quarter. On average, sell-side analysts predict that Flagstar Bank, National Association will post -0.31 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, December 17th. Investors of record on Sunday, December 7th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association’s payout ratio is -4.12%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLG. TD Cowen assumed coverage on shares of Flagstar Bank, National Association in a report on Thursday, September 25th. They set a “hold” rating and a $14.00 target price on the stock. Truist Financial boosted their price objective on shares of Flagstar Bank, National Association from $12.00 to $13.50 and gave the stock a “hold” rating in a research note on Friday, September 12th. DA Davidson reaffirmed a “buy” rating and issued a $14.50 target price on shares of Flagstar Bank, National Association in a report on Thursday, November 13th. Citigroup lifted their price target on Flagstar Bank, National Association from $15.50 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, UBS Group lowered their price target on Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.88.

About Flagstar Bank, National Association

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.