Engineers Gate Manager LP Takes Position in Flagstar Bank, National Association $FLG

Engineers Gate Manager LP bought a new stake in Flagstar Bank, National Association (NYSE:FLG) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 567,637 shares of the company’s stock, valued at approximately $8,480,000. Engineers Gate Manager LP owned 0.14% of Flagstar Bank, National Association at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DV Equities LLC acquired a new position in shares of Flagstar Bank, National Association in the fourth quarter worth about $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at about $34,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at about $34,000. Advisory Services Network LLC purchased a new position in shares of Flagstar Bank, National Association in the 3rd quarter valued at about $35,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Flagstar Bank, National Association in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on FLG shares. Weiss Ratings upgraded Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, September 4th. DA Davidson reaffirmed a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Royal Bank Of Canada decreased their target price on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, July 27th. Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Sunday, September 6th. Finally, Barclays boosted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.96.

Flagstar Bank, National Association Trading Down 0.0%

FLG stock opened at $13.26 on Friday. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.44. The business’s 50-day moving average is $14.10 and its 200 day moving average is $13.90. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 441.83 and a beta of 0.99.

Flagstar Bank, National Association (NYSE:FLG) last announced its 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 firm had revenue of $512.00 million for the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. Flagstar Bank, National Association’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) EPS. On average, sell-side analysts anticipate that Flagstar Bank, National Association will post 0.34 EPS for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be issued a $0.01 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is presently 133.33%.

Flagstar Bank, National Association announced that its board has initiated a share buyback program on Friday, July 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Flagstar Bank, National Association Profile

Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.

The bank also has a significant mortgage business, including home-loan origination, servicing and related products.