Flagstar Bank, National Association (NYSE:FLG) Reaches New 52-Week High – Here’s What Happened

Flagstar Bank, National Association (NYSE:FLG)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $14.98 and last traded at $14.9150, with a volume of 1436325 shares trading hands. The stock had previously closed at $14.54.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Royal Bank Of Canada raised their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research note on Monday, April 27th. Citigroup raised their price target on Flagstar Bank, National Association from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Barclays raised their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Piper Sandler lifted their target price on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.67.

Flagstar Bank, National Association Price Performance

The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of -67.57 and a beta of 1.02. The stock has a fifty day simple moving average of $13.98 and a 200-day simple moving average of $13.34. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.90 and a quick ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The company had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. During the same period in the previous year, the company posted ($0.26) earnings per share. Flagstar Bank, National Association’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Flagstar Bank, National Association will post 0.46 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Sunday, June 7th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is presently -18.18%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FLG. Alliancebernstein L.P. raised 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 buying an additional 6,096,512 shares during the period. Alyeska Investment Group L.P. acquired a new position in Flagstar Bank, National Association in the 4th quarter valued at $53,216,000. Norges Bank acquired a new position in Flagstar Bank, National Association in the 4th quarter valued at $44,046,000. JPMorgan Chase & Co. raised its stake in Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after purchasing an additional 2,894,424 shares during the last quarter. Finally, North Reef Capital Management LP acquired a new position in Flagstar Bank, National Association in the 1st quarter valued at $36,744,000. 67.88% of the stock is owned by institutional investors and hedge funds.

About Flagstar Bank, National Association

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.