Louisiana State Employees Retirement System Buys New Shares in Flagstar Bank, National Association $FLG

Louisiana State Employees Retirement System bought a new position in Flagstar Bank, National Association (NYSE:FLG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 86,800 shares of the company’s stock, valued at approximately $1,143,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in shares of Flagstar Bank, National Association in the fourth quarter valued at about $25,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Flagstar Bank, National Association during the fourth quarter worth about $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association during the fourth quarter worth about $34,000. Advisory Services Network LLC purchased a new stake in Flagstar Bank, National Association in the third quarter valued at approximately $35,000. Finally, Clayton Financial Group LLC purchased a new stake in Flagstar Bank, National Association in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analysts Set New Price Targets

FLG has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler upped their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Royal Bank Of Canada increased their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, April 27th. Finally, Morgan Stanley raised their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $15.92.

Flagstar Bank, National Association Stock Down 0.0%

Flagstar Bank, National Association stock opened at $14.59 on Friday. The business’s 50-day moving average price is $14.26 and its 200 day moving average price is $13.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of -66.30 and a beta of 1.01. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.36.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.Flagstar Bank, National Association’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) earnings per share. As a group, sell-side analysts anticipate that Flagstar Bank, National Association will post 0.44 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Sunday, June 7th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, June 5th. Flagstar Bank, National Association’s payout ratio is currently -18.18%.

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.