Flagstar Bank, National Association (NYSE:FLG) CEO Joseph Otting Acquires 47,324 Shares of Stock

Flagstar Bank, National Association (NYSE:FLG) CEO Joseph Otting acquired 47,324 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average price of $10.49 per share, with a total value of $496,428.76. Following the completion of the acquisition, the chief executive officer directly owned 1,088,823 shares of the company’s stock, valued at $11,421,753.27. This represents a 4.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Flagstar Bank, National Association Stock Down 0.7%

NYSE:FLG opened at $10.38 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.91 and a quick ratio of 0.96. Flagstar Bank, National Association has a 1-year low of $9.93 and a 1-year high of $15.44. The company has a 50-day moving average of $11.60 and a 200 day moving average of $13.32. The firm has a market cap of $4.13 billion, a PE ratio of 65.31 and a beta of 1.10.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. The business had revenue of $530.00 million for the quarter, compared to analysts’ expectations of $545.12 million. During the same period last year, the business posted ($0.07) EPS. As a group, research analysts anticipate that Flagstar Bank, National Association will post 0.13 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Monday, December 7th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, December 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is currently 26.67%.

Flagstar Bank, National Association declared that its board has initiated a share buyback plan on Friday, July 24th that allows the company to buy back $250 million in shares. This buyback authorization allows the company to buy up to 4.1% of its shares through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FLG has been the subject of a number of recent research reports. TD Cowen reduced their price objective on shares of Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Barclays dropped their target price on Flagstar Bank, National Association from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 3rd. DA Davidson reiterated a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a report on Monday, July 27th. UBS Group reduced their price target on Flagstar Bank, National Association from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Finally, Truist Financial decreased their price objective on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Hold” and a consensus target price of $14.12.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. Dimensional Fund Advisors LP increased its holdings in shares of Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after purchasing an additional 569,003 shares during the period. North Reef Capital Management LP acquired a new stake in shares of Flagstar Bank, National Association during the first quarter worth about $36,744,000. Private Management Group Inc. lifted its holdings in shares of Flagstar Bank, National Association by 0.5% during the third quarter. Private Management Group Inc. now owns 3,086,505 shares of the company’s stock worth $36,020,000 after purchasing an additional 15,665 shares during the period. Boston Partners lifted its holdings in shares of Flagstar Bank, National Association by 2,688.6% during the third quarter. Boston Partners now owns 2,875,776 shares of the company’s stock worth $33,559,000 after purchasing an additional 2,772,648 shares during the period. Finally, Polar Asset Management Partners Inc. boosted its position in Flagstar Bank, National Association by 36.8% in the first quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after buying an additional 437,939 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service bank serving consumers, businesses and communities. Its offerings include checking and savings accounts, residential mortgages and other home-financing products, as well as business and commercial real estate lending. The bank also provides services such as cash management and other banking solutions for businesses. Its retail banking presence is concentrated in parts of the Northeast and Midwest, while its mortgage and commercial banking activities extend beyond its branch network.