Key Points
- CEO Joseph Otting purchased 47,324 shares for about $496,429, increasing his direct stake by 4.54% to 1,088,823 shares.
- Flagstar missed quarterly expectations, reporting EPS of $0.01 versus the $0.07 consensus and revenue of $530 million versus estimates of $545.12 million.
- The company declared a quarterly dividend of $0.01 per share and has a $250 million share-repurchase authorization; analysts’ consensus rating is Hold, with an average target price of $14.12.
Flagstar Bank, National Association (NYSE:FLG - Get Free Report) CEO Joseph Otting acquired 47,324 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average price of $10.49 per share, for a total transaction of $496,428.76. Following the purchase, the chief executive officer directly owned 1,088,823 shares of the company's stock, valued at approximately $11,421,753.27. This trade represents a 4.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Flagstar Bank, National Association Trading Down 0.7%
Shares of Flagstar Bank, National Association stock opened at $10.38 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.91 and a quick ratio of 0.96. The firm has a fifty day moving average price of $11.60 and a 200 day moving average price of $13.32. Flagstar Bank, National Association has a 1 year low of $9.93 and a 1 year high of $15.44. The stock has a market cap of $4.13 billion, a PE ratio of 65.31 and a beta of 1.10.
Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last posted its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. The business had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Equities research analysts predict that Flagstar Bank, National Association will post 0.13 earnings per share for the current year.
Flagstar Bank, National Association Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, December 7th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, December 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. Flagstar Bank, National Association's dividend payout ratio (DPR) is presently 26.67%.
Flagstar Bank, National Association declared that its board has authorized a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Flagstar Bank, National Association by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company's stock worth $88,645,000 after acquiring an additional 569,003 shares in the last quarter. North Reef Capital Management LP acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter valued at about $36,744,000. Private Management Group Inc. grew its position in shares of Flagstar Bank, National Association by 0.5% during the 3rd quarter. Private Management Group Inc. now owns 3,086,505 shares of the company's stock valued at $36,020,000 after acquiring an additional 15,665 shares during the period. Boston Partners increased its stake in shares of Flagstar Bank, National Association by 2,688.6% in the 3rd quarter. Boston Partners now owns 2,875,776 shares of the company's stock valued at $33,559,000 after purchasing an additional 2,772,648 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its stake in shares of Flagstar Bank, National Association by 36.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company's stock valued at $21,420,000 after purchasing an additional 437,939 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on FLG shares. Truist Financial lowered their target price on Flagstar Bank, National Association from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, October 26th. Morgan Stanley lowered Flagstar Bank, National Association from an "overweight" rating to an "underweight" rating and dropped their target price for the stock from $15.00 to $12.00 in a report on Wednesday, November 4th. UBS Group reduced their price target on Flagstar Bank, National Association from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, October 27th. Wall Street Zen downgraded Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a report on Saturday, September 26th. Finally, TD Cowen lowered their price objective on Flagstar Bank, National Association from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, October 26th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Flagstar Bank, National Association has a consensus rating of "Hold" and an average target price of $14.12.
Get Our Latest Analysis on FLG
Flagstar Bank, National Association Company Profile
(
Get Free Report)
Flagstar Bank, National Association is a full-service bank serving consumers, businesses and communities. Its offerings include checking and savings accounts, residential mortgages and other home-financing products, as well as business and commercial real estate lending. The bank also provides services such as cash management and other banking solutions for businesses. Its retail banking presence is concentrated in parts of the Northeast and Midwest, while its mortgage and commercial banking activities extend beyond its branch network.
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