Bastion Asset Management Inc. Makes New $1.85 Million Investment in Flagstar Bank, National Association $FLG

Key Points

• Bastion Asset Management disclosed a new stake in Flagstar Bank, buying 139,902 shares worth about $1.85 million in the first quarter.
• Other institutional investors also increased their FLG holdings, and 67.88% of the stock is owned by institutions and hedge funds, underscoring strong professional investor interest.
• Analysts remain broadly positive on Flagstar Bank: the stock has a Moderate Buy consensus with a target price of $16.96, while the shares recently traded near their 52-week high at $15.36.

Bastion Asset Management Inc. purchased a new stake in Flagstar Bank, National Association (NYSE:FLG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 139,902 shares of the company's stock, valued at approximately $1,846,000.

Several other large investors have also modified their holdings of FLG. UMB Bank n.a. lifted its stake in Flagstar Bank, National Association by 23.6% in the 4th quarter. UMB Bank n.a. now owns 3,766 shares of the company's stock valued at $47,000 after buying an additional 719 shares in the last quarter. Allworth Financial LP increased its position in Flagstar Bank, National Association by 8.6% during the fourth quarter. Allworth Financial LP now owns 10,994 shares of the company's stock worth $138,000 after buying an additional 869 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Flagstar Bank, National Association by 6.2% during the third quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company's stock worth $185,000 after buying an additional 936 shares in the last quarter. Collar Capital Management LLC raised its holdings in shares of Flagstar Bank, National Association by 0.9% in the fourth quarter. Collar Capital Management LLC now owns 117,025 shares of the company's stock worth $1,473,000 after acquiring an additional 1,075 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Flagstar Bank, National Association by 6.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,106 shares of the company's stock worth $241,000 after acquiring an additional 1,127 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on FLG shares. Cantor Fitzgerald increased their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday. Wall Street Zen lowered shares of Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. DA Davidson raised their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Citigroup lifted their price target on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, Barclays boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.96.

Flagstar Bank, National Association Price Performance

Shares of NYSE:FLG opened at $15.36 on Friday. The company has a market cap of $6.40 billion, a P/E ratio of -69.80 and a beta of 1.01. The business has a fifty day simple moving average of $14.41 and a 200-day simple moving average of $13.72. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.44. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its earnings results on Friday, April 24th. The company reported $0.04 earnings per share 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 for the quarter, compared to the consensus estimate of $556.74 million. During the same period in the prior year, the business posted ($0.26) earnings per share. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Flagstar Bank, National Association will post 0.43 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

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

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.

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