Louisiana State Employees Retirement System Invests $1.14 Million in Flagstar Bank, National Association $FLG

Louisiana State Employees Retirement System bought a new stake in shares of Flagstar Bank, National Association (NYSE:FLG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 86,800 shares of the company’s stock, valued at approximately $1,143,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Flagstar Bank, National Association by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after purchasing an additional 467,053 shares during the period. Alliancebernstein L.P. grew its holdings in Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after purchasing an additional 6,096,512 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Flagstar Bank, National Association by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,162,628 shares of the company’s stock valued at $77,589,000 after buying an additional 316,612 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Flagstar Bank, National Association by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock valued at $58,243,000 after buying an additional 1,750,889 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Flagstar Bank, National Association during the 4th quarter worth approximately $53,216,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Wall Street Analysts Forecast Growth

FLG has been the topic of a number of recent analyst reports. Citigroup increased their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Tuesday, April 21st. Piper Sandler upped their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods raised shares of 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 report on Friday, March 13th. Finally, Royal Bank Of Canada lifted their target price on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.92.

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $14.59 on Friday. The company has a market cap of $6.08 billion, a PE ratio of -66.30 and a beta of 1.01. The stock’s 50 day simple moving average is $14.26 and its 200-day simple moving average is $13.60. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.90 and a quick ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, April 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The firm had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the previous year, the business earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts anticipate that Flagstar Bank, National Association will post 0.44 EPS for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Sunday, June 7th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Flagstar Bank, National Association’s payout ratio is -18.18%.

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.