Envestnet Asset Management Inc. Has $1.60 Million Stock Holdings in Flagstar Bank, National Association $FLG

Envestnet Asset Management Inc. increased its position in Flagstar Bank, National Association (NYSE:FLG) by 43.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,719 shares of the company’s stock after purchasing an additional 42,310 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Flagstar Bank, National Association were worth $1,602,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in Flagstar Bank, National Association by 9.4% during the second quarter. Geode Capital Management LLC now owns 7,462,877 shares of the company’s stock worth $79,116,000 after buying an additional 641,117 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after acquiring an additional 6,096,512 shares during the period. Private Management Group Inc. increased its holdings in shares of Flagstar Bank, National Association by 0.4% during the 2nd quarter. Private Management Group Inc. now owns 3,082,003 shares of the company’s stock worth $32,669,000 after acquiring an additional 12,371 shares during the last quarter. Norges Bank acquired a new position in shares of Flagstar Bank, National Association during the 2nd quarter worth approximately $31,502,000. Finally, Bank of New York Mellon Corp bought a new stake in Flagstar Bank, National Association in the 2nd quarter valued at $23,059,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLG has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Keefe, Bruyette & Woods lifted their target price on shares of Flagstar Bank, National Association from $13.50 to $14.00 and gave the stock a “market perform” rating in a report on Monday, February 2nd. Cantor Fitzgerald upped their price target on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.46.

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $12.65 on Friday. The firm has a 50-day moving average price of $13.24 and a two-hundred day moving average price of $12.45. Flagstar Bank, National Association has a 12-month low of $9.64 and a 12-month high of $14.53. The company has a market capitalization of $5.26 billion, a P/E ratio of -24.81 and a beta of 1.10. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.59.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $548.00 million during the quarter, compared to the consensus estimate of $533.00 million. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.41) earnings per share. Analysts anticipate that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Saturday, March 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, March 6th. Flagstar Bank, National Association’s dividend payout ratio is presently -7.84%.

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.