Flagstar Bank, National Association $FLG Shares Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. raised its holdings in Flagstar Bank, National Association (NYSE:FLG) by 268.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 345,953 shares of the company’s stock after buying an additional 252,053 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.08% of Flagstar Bank, National Association worth $3,996,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Flagstar Bank, National Association during the 2nd quarter worth approximately $31,502,000. Old West Investment Management LLC acquired a new position in Flagstar Bank, National Association during the 3rd quarter valued at approximately $3,124,000. JPMorgan Chase & Co. raised its holdings in shares of Flagstar Bank, National Association by 310.8% in the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after buying an additional 2,894,424 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Flagstar Bank, National Association by 28.0% during the third quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company’s stock worth $2,131,000 after buying an additional 40,374 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of Flagstar Bank, National Association by 134.3% during the third quarter. TD Asset Management Inc now owns 155,084 shares of the company’s stock worth $1,791,000 after buying an additional 88,890 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Flagstar Bank, National Association in a report on Monday. They set an “overweight” rating and a $16.00 price objective on the stock. Barclays lifted their price target on 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. Royal Bank Of Canada boosted their price target on Flagstar Bank, National Association from $13.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.86.

Flagstar Bank, National Association Stock Up 1.4%

Shares of FLG opened at $12.54 on Friday. Flagstar Bank, National Association has a 52 week low of $9.64 and a 52 week high of $14.53. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -24.58 and a beta of 1.08. The stock’s 50-day moving average price is $13.20 and its 200-day moving average price is $12.47.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results 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. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The company had revenue of $548.00 million during the quarter, compared to analysts’ expectations of $533.00 million. During the same period last year, the business earned ($0.41) earnings per share. Flagstar Bank, National Association’s quarterly revenue was down 10.9% on a year-over-year basis. On average, sell-side analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

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

Flagstar Bank, National Association 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.