Elevated Capital Advisors LLC Reduces Holdings in Flagstar Bank, National Association $FLG

Elevated Capital Advisors LLC decreased its position in shares of Flagstar Bank, National Association (NYSE:FLG) by 92.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,842 shares of the company’s stock after selling 49,557 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Flagstar Bank, National Association were worth $51,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FLG. UMB Bank n.a. boosted its stake in Flagstar Bank, National Association by 23.6% in the 4th quarter. UMB Bank n.a. now owns 3,766 shares of the company’s stock worth $47,000 after purchasing an additional 719 shares during the period. Allworth Financial LP increased its holdings in Flagstar Bank, National Association by 8.6% during the 4th quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock worth $138,000 after acquiring an additional 869 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in Flagstar Bank, National Association by 6.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock worth $185,000 after acquiring an additional 936 shares during the period. Collar Capital Management LLC lifted its stake in Flagstar Bank, National Association by 0.9% in the 4th quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock worth $1,473,000 after purchasing an additional 1,075 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Flagstar Bank, National Association by 6.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,106 shares of the company’s stock valued at $241,000 after purchasing an additional 1,127 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Trading Up 2.1%

Shares of NYSE FLG traded up $0.32 during midday trading on Friday, hitting $15.09. 2,573,948 shares of the company traded hands, compared to its average volume of 5,314,820. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.90 and a current ratio of 0.90. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.36. The firm has a market cap of $6.29 billion, a P/E ratio of -68.57 and a beta of 1.01. The stock has a 50-day moving average price of $14.34 and a 200 day moving average price of $13.66.

Flagstar Bank, National Association (NYSE:FLG) last issued 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 analysts’ expectations of $556.74 million. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. Flagstar Bank, National Association’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted ($0.26) EPS. As a group, analysts expect that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on FLG shares. Barclays boosted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Morgan Stanley lifted their target price on shares of 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. UBS Group assumed coverage on shares of Flagstar Bank, National Association in a research report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price for the company. Wall Street Zen lowered Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Piper Sandler lifted their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.88.

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.