ProShare Advisors LLC Sells 62,003 Shares of Flagstar Bank, National Association $FLG

ProShare Advisors LLC lessened its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 47.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 67,415 shares of the company’s stock after selling 62,003 shares during the period. ProShare Advisors LLC’s holdings in Flagstar Bank, National Association were worth $849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Flagstar Bank, National Association by 310.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after buying an additional 2,894,424 shares in the last quarter. Old West Investment Management LLC bought a new stake in shares of Flagstar Bank, National Association in the 3rd quarter worth $3,124,000. Allianz Asset Management GmbH increased its holdings in shares of Flagstar Bank, National Association by 28.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock worth $2,131,000 after purchasing an additional 40,374 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Flagstar Bank, National Association by 134.3% in the 3rd quarter. TD Asset Management Inc now owns 155,084 shares of the company’s stock worth $1,791,000 after purchasing an additional 88,890 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its holdings in shares of Flagstar Bank, National Association by 268.4% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 345,953 shares of the company’s stock worth $3,996,000 after purchasing an additional 252,053 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

Analyst Upgrades and Downgrades

FLG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price 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. Morgan Stanley lifted their target price on Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Citigroup lifted their target price on Flagstar Bank, National Association from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. DA Davidson lifted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Piper Sandler lifted their target price on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock an “overweight” rating in a report on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.42.

Flagstar Bank, National Association Stock Performance

FLG stock opened at $14.03 on Wednesday. The company has a market cap of $5.85 billion, a P/E ratio of -63.77 and a beta of 1.03. Flagstar Bank, National Association has a 1 year low of $10.38 and a 1 year high of $14.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average price is $13.66 and its 200-day moving average price is $13.07.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $507.00 million for the quarter, compared to the consensus estimate of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business posted ($0.26) EPS. On average, equities analysts forecast that Flagstar Bank, National Association will post 0.47 earnings per share for the current year.

Flagstar Bank, National Association Announces Dividend

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