Fifth Third Bancorp Boosts Stake in Flagstar Bank, National Association $FLG

Fifth Third Bancorp boosted its position in Flagstar Bank, National Association (NYSE:FLGFree Report) by 1,908.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,056 shares of the company’s stock after purchasing an additional 65,617 shares during the period. Fifth Third Bancorp’s holdings in Flagstar Bank, National Association were worth $909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of Flagstar Bank, National Association during the first quarter worth $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flagstar Bank, National Association in the 1st quarter worth approximately $1,754,000. Goldman Sachs Group Inc. purchased a new stake in Flagstar Bank, National Association during the first quarter worth $21,022,000. United Services Automobile Association bought a new stake in Flagstar Bank, National Association during the first quarter valued at about $219,000. Finally, Empowered Funds LLC bought a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at about $516,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Down 0.0%

NYSE:FLG opened at $13.85 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44. The company has a market cap of $5.77 billion, a PE ratio of 461.53 and a beta of 1.01. The company’s 50 day moving average is $14.51 and its two-hundred day moving average is $13.81.

Flagstar Bank, National Association (NYSE:FLGGet Free Report) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The company had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $540.87 million. During the same period in the prior year, the business posted ($0.14) EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Flagstar Bank, National Association will post 0.43 EPS for the current year.

Flagstar Bank, National Association announced that its Board of Directors has approved a share buyback program on Friday, July 24th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Flagstar Bank, National Association News Summary

Here are the key news stories impacting Flagstar Bank, National Association this week:

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Cantor Fitzgerald upped their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. TD Cowen upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price objective for the company from $15.00 to $18.00 in a report on Monday, July 6th. Finally, Citigroup raised their price objective on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Moderate Buy” and a consensus target price of $16.96.

Read Our Latest Analysis on Flagstar Bank, National Association

Flagstar Bank, National Association Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Flagstar Bank, National Association (NYSE:FLG)

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