Bastion Asset Management Inc. Takes Position in Flagstar Bank, National Association $FLG

Bastion Asset Management Inc. acquired a new position in shares of Flagstar Bank, National Association (NYSE:FLG) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 139,902 shares of the company’s stock, valued at approximately $1,846,000.

Several other large investors have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in Flagstar Bank, National Association during the first quarter valued at about $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flagstar Bank, National Association during the 1st quarter worth about $1,754,000. Goldman Sachs Group Inc. purchased a new stake in shares of Flagstar Bank, National Association during the 1st quarter worth about $21,022,000. United Services Automobile Association acquired a new stake in Flagstar Bank, National Association during the 1st quarter worth approximately $219,000. Finally, Empowered Funds LLC acquired a new stake in Flagstar Bank, National Association during the 1st quarter worth approximately $516,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on FLG. Citigroup lifted their price target on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. increased their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. UBS Group began coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, April 27th. Finally, DA Davidson upped their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Flagstar Bank, National Association has an average rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Trading Up 2.3%

FLG opened at $15.36 on Friday. The firm’s 50 day moving average is $14.41 and its 200-day moving average is $13.72. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $6.40 billion, a P/E ratio of -69.80 and a beta of 1.01.

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 the consensus estimate of $0.03 by $0.01. The business had revenue of $507.00 million during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.26) earnings per share. Analysts expect that Flagstar Bank, National Association will post 0.43 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Sunday, June 7th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is presently -18.18%.

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.