Squarepoint Ops LLC Trims Holdings in Flagstar Bank, National Association $FLG

Squarepoint Ops LLC lessened its stake in Flagstar Bank, National Association (NYSE:FLG) by 6.9% in the second quarter, Holdings Channel reports. The institutional investor owned 597,843 shares of the company’s stock after selling 44,631 shares during the quarter. Squarepoint Ops LLC’s holdings in Flagstar Bank, National Association were worth $8,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in 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 valued at $70,341,000 after acquiring an additional 6,096,512 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Flagstar Bank, National Association by 1,338.7% in the 2nd quarter. California State Teachers Retirement System now owns 5,358,694 shares of the company’s stock valued at $80,059,000 after purchasing an additional 4,986,233 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Flagstar Bank, National Association during the fourth quarter worth about $53,216,000. Norges Bank bought a new position in shares of Flagstar Bank, National Association during the fourth quarter worth about $44,046,000. Finally, North Reef Capital Management LP acquired a new position in Flagstar Bank, National Association in the first quarter worth about $36,744,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Performance

Shares of NYSE FLG opened at $13.26 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. The firm’s 50-day moving average price is $14.10 and its two-hundred day moving average price is $13.90. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The stock has a market capitalization of $5.50 billion, a P/E ratio of 441.83 and a beta of 0.99.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company posted ($0.14) earnings per share. As a group, sell-side analysts forecast that Flagstar Bank, National Association will post 0.34 earnings per share for the current year.

Flagstar Bank, National Association announced that its Board of Directors has authorized a stock buyback program on Friday, July 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Flagstar Bank, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, September 7th will be given a dividend of $0.01 per share. 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 payout ratio is currently 133.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler boosted their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Barclays lifted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada lowered their price target on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Monday, July 27th. Cantor Fitzgerald upped their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, UBS Group began coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.96.

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.