Flagstar Bank, National Association $FLG Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 310.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,825,713 shares of the company’s stock after purchasing an additional 2,894,424 shares during the period. JPMorgan Chase & Co.’s holdings in Flagstar Bank, National Association were worth $44,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Flagstar Bank, National Association during the second quarter worth $31,502,000. Old West Investment Management LLC purchased a new position in Flagstar Bank, National Association in the third quarter valued at about $3,124,000. Allianz Asset Management GmbH increased its position in Flagstar Bank, National Association by 28.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock worth $2,131,000 after purchasing an additional 40,374 shares during the last quarter. TD Asset Management Inc increased its position in Flagstar Bank, National Association by 134.3% in the 3rd quarter. TD Asset Management Inc now owns 155,084 shares of the company’s stock worth $1,791,000 after purchasing an additional 88,890 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Flagstar Bank, National Association during the 2nd quarter worth about $1,020,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Barclays raised their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Piper Sandler began coverage on shares of Flagstar Bank, National Association in a research note on Monday, March 16th. They set an “overweight” rating and a $16.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Flagstar Bank, National Association currently has a consensus rating of “Hold” and an average target price of $14.86.

Flagstar Bank, National Association Stock Down 2.1%

FLG opened at $12.25 on Friday. The firm has a market cap of $5.09 billion, a P/E ratio of -24.01 and a beta of 1.08. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.91 and a current ratio of 0.92. The business has a 50 day moving average price of $13.18 and a 200 day moving average price of $12.47. Flagstar Bank, National Association has a twelve month low of $9.64 and a twelve month high of $14.53.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $533.00 million. During the same quarter last year, the company posted ($0.41) earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. Research analysts forecast that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Saturday, March 7th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, March 6th. Flagstar Bank, National Association’s dividend payout ratio is currently -7.84%.

Flagstar Bank, National Association Company 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.