Cerity Partners LLC Invests $19.96 Million in Flagstar Bank, National Association $FLG

Cerity Partners LLC bought a new stake in Flagstar Bank, National Association (NYSE:FLG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,882,695 shares of the company’s stock, valued at approximately $19,957,000. Cerity Partners LLC owned about 0.45% of Flagstar Bank, National Association as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC bought a new position in Flagstar Bank, National Association in the second quarter valued at approximately $28,000. Financial Freedom LLC bought a new position in shares of Flagstar Bank, National Association in the second quarter valued at $31,000. UMB Bank n.a. bought a new position in shares of Flagstar Bank, National Association in the second quarter valued at $33,000. Marquette Asset Management LLC acquired a new position in Flagstar Bank, National Association during the second quarter worth $35,000. Finally, American National Bank & Trust bought a new stake in Flagstar Bank, National Association during the second quarter worth $41,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Trading Down 1.4%

Shares of NYSE:FLG opened at $12.70 on Wednesday. Flagstar Bank, National Association has a 12-month low of $8.56 and a 12-month high of $13.35. The business has a 50 day moving average of $11.65 and a 200-day moving average of $11.72. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.73. The stock has a market cap of $5.28 billion, a PE ratio of -13.09 and a beta of 1.11.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share 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%. As a group, equities research analysts forecast that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm 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 dividend yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is -4.12%.

Analyst Upgrades and Downgrades

FLG has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Flagstar Bank, National Association from $12.50 to $14.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Wednesday, October 8th. 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. TD Cowen started coverage on Flagstar Bank, National Association in a research report on Thursday, September 25th. They issued a “hold” rating and a $14.00 price objective for the company. Finally, Morgan Stanley set a $14.00 target price on Flagstar Bank, National Association and gave the stock an “underperform” rating in a report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.05.

Flagstar Bank, National Association Profile

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.