Old West Investment Management LLC Takes Position in Flagstar Bank, National Association $FLG

Old West Investment Management LLC purchased a new position in shares of Flagstar Bank, National Association (NYSE:FLG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 270,469 shares of the company’s stock, valued at approximately $3,124,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLG. CWM LLC acquired a new position in shares of Flagstar Bank, National Association in the second quarter worth about $28,000. Financial Freedom LLC purchased a new position in Flagstar Bank, National Association during the second quarter worth approximately $31,000. Geneos Wealth Management Inc. acquired a new stake in Flagstar Bank, National Association in the first quarter valued at approximately $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Flagstar Bank, National Association during the 2nd quarter worth approximately $47,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in Flagstar Bank, National Association by 115.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,900 shares of the company’s stock valued at $63,000 after acquiring an additional 3,166 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $14.26 on Friday. The firm has a market cap of $5.93 billion, a PE ratio of -27.96, a price-to-earnings-growth ratio of 0.67 and a beta of 1.10. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.59. Flagstar Bank, National Association has a 52 week low of $9.64 and a 52 week high of $14.43. The business’s fifty day simple moving average is $12.98 and its 200-day simple moving average is $12.22.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The firm had revenue of $548.00 million during the quarter, compared to the consensus estimate of $533.00 million. During the same period last year, the company earned ($0.41) EPS. The company’s quarterly revenue was down 10.9% on a year-over-year basis. Equities analysts forecast that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FLG shares. Keefe, Bruyette & Woods raised their price target on shares of Flagstar Bank, National Association from $13.50 to $14.00 and gave the company a “market perform” rating in a research note on Monday, February 2nd. Royal Bank Of Canada upped their target price on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, February 2nd. Cantor Fitzgerald upped their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Barclays upped their price target on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Citigroup boosted their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Flagstar Bank, National Association presently has a consensus rating of “Hold” and a consensus target price of $14.46.

Flagstar Bank, National Association Company Profile

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.