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

Flagstar Bank, National Association (NYSE:FLG) reached 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 Ratings Changes

Several research analysts recently commented on FLG shares. Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $16.00 in a research note on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. DA Davidson increased their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Citigroup increased their price objective 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. Finally, Barclays upped their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.67.

Flagstar Bank, National Association Trading Up 2.2%

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

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

Flagstar Bank, National Association Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Sunday, June 7th will be issued a $0.01 dividend. 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 dividend payout ratio is presently -18.18%.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds have recently modified their holdings of FLG. AQR Capital Management LLC purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter worth $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter worth $1,754,000. Goldman Sachs Group Inc. purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter worth $21,022,000. United Services Automobile Association purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter worth $219,000. Finally, Empowered Funds LLC purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter worth $516,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.