Flagstar Bank, National Association (NYSE:FLG) Sees Significant Decrease in Short Interest

Flagstar Bank, National Association (NYSE:FLG) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 36,435,988 shares, a decrease of 39.6% from the May 14th total of 60,349,435 shares. Based on an average daily volume of 3,478,668 shares, the days-to-cover ratio is presently 10.5 days. Currently, 9.3% of the shares of the stock are sold short.

Flagstar Bank, National Association Trading Up 0.4%

Shares of FLG traded up $0.07 during trading hours on Monday, reaching $15.01. 5,855,159 shares of the company traded hands, compared to its average volume of 4,994,946. The company’s fifty day moving average price is $14.01 and its two-hundred day moving average price is $13.36. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -68.20 and a beta of 1.02. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. Flagstar Bank, National Association has a 12 month low of $10.38 and a 12 month high of $15.24.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $507.00 million for the quarter, compared to analyst estimates 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%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) EPS. Equities research analysts predict that Flagstar Bank, National Association will post 0.46 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Glenmede Trust Co. NA purchased a new position in Flagstar Bank, National Association in the first quarter worth about $172,000. Amundi raised its holdings in Flagstar Bank, National Association by 93.9% in the first quarter. Amundi now owns 19,716 shares of the company’s stock worth $260,000 after buying an additional 9,550 shares during the last quarter. California State Teachers Retirement System raised its holdings in Flagstar Bank, National Association by 26.2% in the first quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock worth $4,905,000 after buying an additional 77,292 shares during the last quarter. Empowered Funds LLC raised its holdings in Flagstar Bank, National Association by 4.0% in the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after buying an additional 1,117 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Flagstar Bank, National Association by 32.7% in the first quarter. Quantinno Capital Management LP now owns 18,951 shares of the company’s stock worth $250,000 after buying an additional 4,670 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Royal Bank Of Canada raised their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. Piper Sandler increased their target price on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the company an “overweight” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Citigroup increased their target price on shares of Flagstar Bank, National Association from $16.50 to $17.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Flagstar Bank, National Association currently has a consensus rating of “Hold” and a consensus target price of $15.67.

Flagstar Bank, National Association Company 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.