Flagstar Bank, National Association $FLG Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Flagstar Bank, National Association (NYSE:FLG) by 310.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,825,713 shares of the company’s stock after purchasing an additional 2,894,424 shares during the quarter. JPMorgan Chase & Co. owned 0.92% of Flagstar Bank, National Association worth $44,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FLG. Norges Bank acquired a new stake in shares of Flagstar Bank, National Association during the 2nd quarter valued at $31,502,000. Old West Investment Management LLC bought a new stake in shares of Flagstar Bank, National Association during the 3rd quarter worth $3,124,000. Allianz Asset Management GmbH grew its holdings in shares of 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 acquiring an additional 40,374 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of 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 acquiring an additional 88,890 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Flagstar Bank, National Association during the second quarter worth $1,020,000. 67.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLG. JPMorgan Chase & Co. upped their target price on Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods upgraded Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $14.00 to $16.00 in a report on Friday, March 13th. Citigroup upped their price objective on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Barclays raised their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Finally, Piper Sandler began coverage on shares of Flagstar Bank, National Association in a report on Monday, March 16th. They set an “overweight” rating and a $16.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.86.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $12.25 on Friday. Flagstar Bank, National Association has a 12 month low of $9.64 and a 12 month high of $14.53. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59. The stock has a market cap of $5.09 billion, a PE ratio of -24.01 and a beta of 1.08. The business has a fifty day simple moving average of $13.18 and a 200-day simple moving average of $12.47.

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

Flagstar Bank, National Association Announces Dividend

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

Flagstar Bank, National Association 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.