Polar Asset Management Partners Inc. Has $21.42 Million Stock Holdings in Flagstar Bank, National Association $FLG

Polar Asset Management Partners Inc. lifted its stake in shares of Flagstar Bank, National Association (NYSE:FLGFree Report) by 36.8% during the first quarter, HoldingsChannel reports. The firm owned 1,626,388 shares of the company’s stock after acquiring an additional 437,939 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Flagstar Bank, National Association were worth $21,420,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. DV Equities LLC bought a new position in shares of Flagstar Bank, National Association in the fourth quarter valued at about $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at $34,000. Litman Gregory Wealth Management LLC bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at $34,000. Advisory Services Network LLC acquired a new position in Flagstar Bank, National Association in the 3rd quarter valued at $35,000. Finally, Clayton Financial Group LLC bought a new position in Flagstar Bank, National Association during the 4th quarter worth $42,000. 67.88% of the stock is owned by institutional investors.

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Flagstar Bank, National Association Stock Performance

NYSE:FLG opened at $13.85 on Monday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 461.53 and a beta of 1.01. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average price of $14.51 and a 200-day moving average price of $13.81.

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

Flagstar Bank, National Association announced that its Board of Directors has authorized 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 generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLG. Cantor Fitzgerald lifted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Friday, July 17th. TD Cowen upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, July 6th. Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Morgan Stanley increased their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.96.

Read Our Latest Stock Report on FLG

Flagstar Bank, National Association 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.

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

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