JPMorgan Chase & Co. Has $44.19 Million Stock Position in Flagstar Bank, National Association $FLG

JPMorgan Chase & Co. boosted its stake in shares of Flagstar Bank, National Association (NYSE:FLG) by 310.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,825,713 shares of the company’s stock after purchasing an additional 2,894,424 shares during the period. JPMorgan Chase & Co.’s holdings in Flagstar Bank, National Association were worth $44,187,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Flagstar Bank, National Association in the 2nd quarter valued at about $31,502,000. Amalgamated Bank acquired a new position in Flagstar Bank, National Association during the second quarter worth approximately $1,394,000. Old West Investment Management LLC bought a new stake in Flagstar Bank, National Association in the third quarter valued at approximately $3,124,000. Allianz Asset Management GmbH lifted its position in shares of Flagstar Bank, National Association by 28.0% in the third quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock valued at $2,131,000 after buying an additional 40,374 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Flagstar Bank, National Association in the second quarter valued at approximately $23,059,000. 67.88% of the stock is currently owned by institutional investors.

Flagstar Bank, National Association Stock Down 0.5%

Shares of FLG opened at $13.54 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Flagstar Bank, National Association has a 12 month low of $9.64 and a 12 month high of $14.53. The firm’s 50 day moving average is $13.25 and its 200-day moving average is $12.44. The stock has a market capitalization of $5.63 billion, a PE ratio of -26.55 and a beta of 1.10.

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

Flagstar Bank, National Association Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently weighed in on FLG. Keefe, Bruyette & Woods increased their price target on Flagstar Bank, National Association from $13.50 to $14.00 and gave the company a “market perform” rating in a research note on Monday, February 2nd. DA Davidson reissued a “buy” rating and issued a $16.00 price objective on shares of Flagstar Bank, National Association in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Barclays upped their price target on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Flagstar Bank, National Association has a consensus rating of “Hold” and an average target price of $14.46.

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.