JPMorgan Chase & Co. Has $44.19 Million Stock Position in Flagstar Bank, National Association $FLG

JPMorgan Chase & Co. raised its holdings in shares of Flagstar Bank, National Association (NYSE:FLG) by 310.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,825,713 shares of the company’s stock after purchasing an additional 2,894,424 shares during the period. JPMorgan Chase & Co. owned 0.92% of Flagstar Bank, National Association worth $44,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FLG. State of New Jersey Common Pension Fund D raised its stake in shares of Flagstar Bank, National Association by 12.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 180,260 shares of the company’s stock worth $2,082,000 after buying an additional 19,986 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Flagstar Bank, National Association during the 3rd quarter valued at $33,000. ProShare Advisors LLC lifted its stake in shares of Flagstar Bank, National Association by 70.8% in the 3rd quarter. ProShare Advisors LLC now owns 129,418 shares of the company’s stock valued at $1,495,000 after purchasing an additional 53,644 shares during the period. Old West Investment Management LLC bought a new position in shares of Flagstar Bank, National Association in the 3rd quarter worth $3,124,000. Finally, J.W. Cole Advisors Inc. grew its stake in shares of Flagstar Bank, National Association by 71.6% during the third quarter. J.W. Cole Advisors Inc. now owns 49,917 shares of the company’s stock worth $577,000 after purchasing an additional 20,825 shares during the period. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup increased their target price on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. DA Davidson reissued a “buy” rating and set a $16.00 price objective on shares of Flagstar Bank, National Association in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Royal Bank Of Canada increased 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. Finally, Barclays raised their price target on Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.46.

Flagstar Bank, National Association Stock Down 0.5%

NYSE:FLG opened at $13.54 on Friday. The stock has a 50-day simple moving average of $13.25 and a 200 day simple moving average of $12.44. Flagstar Bank, National Association has a 52-week low of $9.64 and a 52-week high of $14.53. The company has a market cap of $5.63 billion, a PE ratio of -26.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.00.

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

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Saturday, March 7th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is -7.84%.

Flagstar Bank, National Association 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.