Flagstar Bank, National Association (NYSE:FLG) Sees Significant Decrease in Short Interest

Flagstar Bank, National Association (NYSE:FLG) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 36,435,988 shares, a decline of 39.6% from the May 14th total of 60,349,435 shares. Approximately 9.3% of the company’s stock are sold short. Based on an average daily trading volume, of 3,478,668 shares, the short-interest ratio is presently 10.5 days.

Flagstar Bank, National Association Stock Performance

Shares of FLG traded up $0.07 during mid-day trading on Monday, hitting $15.01. 5,855,159 shares of the company traded hands, compared to its average volume of 4,994,946. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50-day moving average price of $14.01 and a two-hundred day moving average price of $13.36. Flagstar Bank, National Association has a 1 year low of $10.38 and a 1 year high of $15.24. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -68.20 and a beta of 1.02.

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

Flagstar Bank, National Association Dividend Announcement

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

Institutional Trading of Flagstar Bank, National Association

Several large investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in Flagstar Bank, National Association by 23.6% during the fourth quarter. UMB Bank n.a. now owns 3,766 shares of the company’s stock valued at $47,000 after buying an additional 719 shares during the period. Allworth Financial LP grew its position in Flagstar Bank, National Association by 8.6% during the fourth quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock valued at $138,000 after buying an additional 869 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Flagstar Bank, National Association by 6.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock valued at $185,000 after buying an additional 936 shares during the period. Collar Capital Management LLC grew its position in Flagstar Bank, National Association by 0.9% during the fourth quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock valued at $1,473,000 after buying an additional 1,075 shares during the period. Finally, Empowered Funds LLC grew its position in Flagstar Bank, National Association by 4.0% during the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock valued at $386,000 after buying an additional 1,117 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FLG. Royal Bank Of Canada boosted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, April 27th. DA Davidson boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods raised shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $14.00 to $16.00 in a report on Friday, March 13th. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Finally, Citigroup boosted their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.67.

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.