State of Michigan Retirement System Takes $773,000 Position in Flagstar Bank, National Association $FLG

State of Michigan Retirement System acquired a new position in Flagstar Bank, National Association (NYSE:FLG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 72,895 shares of the company’s stock, valued at approximately $773,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLG. Versor Investments LP acquired a new position in Flagstar Bank, National Association during the 2nd quarter valued at about $275,000. Amalgamated Bank bought a new stake in shares of Flagstar Bank, National Association during the second quarter worth approximately $1,394,000. Retirement Systems of Alabama acquired a new position in Flagstar Bank, National Association in the second quarter valued at approximately $3,926,000. Spire Wealth Management acquired a new position in Flagstar Bank, National Association in the second quarter valued at approximately $95,000. Finally, World Investment Advisors bought a new position in Flagstar Bank, National Association in the second quarter valued at approximately $155,000. 67.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Wednesday, October 8th. UBS Group dropped their price objective on Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial increased their target price on Flagstar Bank, National Association from $12.00 to $13.50 and gave the company a “hold” rating in a research note on Friday, September 12th. TD Cowen started coverage on Flagstar Bank, National Association in a research report on Thursday, September 25th. They set a “hold” rating and a $14.00 target price for the company. Finally, Morgan Stanley set a $14.00 price target on Flagstar Bank, National Association and gave the company an “underperform” rating in a research note on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.88.

Flagstar Bank, National Association Price Performance

Shares of NYSE FLG opened at $10.89 on Friday. The firm has a market cap of $4.52 billion, a PE ratio of -11.22 and a beta of 1.19. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.73. Flagstar Bank, National Association has a 1-year low of $8.56 and a 1-year high of $13.35. The company has a fifty day moving average price of $11.89 and a 200 day moving average price of $11.76.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $498.00 million during the quarter. Flagstar Bank, National Association had a negative net margin of 7.06% and a negative return on equity of 3.80%. Research analysts predict that Flagstar Bank, National Association will post -0.31 earnings per share for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Sunday, December 7th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.4%. Flagstar Bank, National Association’s payout ratio is presently -4.12%.

About Flagstar Bank, National Association

Flagstar Financial, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company’s deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.