Cerity Partners LLC Trims Holdings in Flagstar Bank, National Association $FLG

Cerity Partners LLC lowered its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 2.9% in the third quarter, Holdings Channel reports. The institutional investor owned 1,828,960 shares of the company’s stock after selling 53,735 shares during the quarter. Cerity Partners LLC’s holdings in Flagstar Bank, National Association were worth $21,124,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at about $1,754,000. Goldman Sachs Group Inc. bought a new position in shares of Flagstar Bank, National Association during the first quarter worth about $21,022,000. Arete Wealth Advisors LLC acquired a new position in Flagstar Bank, National Association in the first quarter worth about $94,000. Finally, United Services Automobile Association acquired a new position in Flagstar Bank, National Association in the first quarter worth about $219,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Flagstar Bank, National Association Stock Performance

FLG stock opened at $13.05 on Friday. Flagstar Bank, National Association has a 1 year low of $8.56 and a 1 year high of $13.85. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -13.45, a PEG ratio of 0.56 and a beta of 1.09. 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 stock’s fifty day moving average is $12.19 and its two-hundred day moving average is $11.93.

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 firm 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%. On average, research analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Sunday, December 7th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, December 5th. Flagstar Bank, National Association’s payout ratio is -4.12%.

Wall Street Analyst Weigh In

FLG has been the topic of several research reports. DA Davidson restated a “buy” rating and set a $14.50 price objective on shares of Flagstar Bank, National Association in a research note on Thursday, November 13th. TD Cowen started coverage on Flagstar Bank, National Association in a research report on Thursday, September 25th. They set a “hold” rating and a $14.00 price target on the stock. UBS Group decreased their price objective on shares of Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Morgan Stanley set a $14.00 target price on shares of Flagstar Bank, National Association and gave the company an “underperform” rating in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.32.

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.