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

Squarepoint Ops LLC cut its position in shares of Flagstar Bank, National Association (NYSE:FLG) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597,843 shares of the company’s stock after selling 44,631 shares during the quarter. Squarepoint Ops LLC owned about 0.14% of Flagstar Bank, National Association worth $8,932,000 at the end of the most recent quarter.

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

Flagstar Bank, National Association Price Performance

Shares of FLG stock opened at $13.26 on Friday. The firm has a fifty day simple moving average of $14.10 and a 200-day simple moving average of $13.90. The company has a market capitalization of $5.50 billion, a PE ratio of 441.83 and a beta of 0.99. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43.

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

Flagstar Bank, National Association declared that its Board of Directors has approved a share repurchase plan on Friday, July 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, September 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Flagstar Bank, National Association’s payout ratio is presently 133.33%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FLG. TD Cowen reduced their target price on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Royal Bank Of Canada cut their price objective on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, July 27th. DA Davidson restated a “buy” rating and set a $17.00 price objective on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. UBS Group initiated coverage on Flagstar Bank, National Association in a research report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Morgan Stanley upgraded Flagstar Bank, National Association from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $15.00 to $17.00 in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average price target of $16.96.

About Flagstar Bank, National Association

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.