Cranbrook Wealth Management LLC Makes New $1.75 Million Investment in Flagstar Bank, National Association $FLG

Cranbrook Wealth Management LLC purchased a new stake in Flagstar Bank, National Association (NYSE:FLG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 150,042 shares of the company's stock, valued at approximately $1,751,000.

Several other large investors have also recently modified their holdings of FLG. IFP Advisors Inc raised its holdings in shares of Flagstar Bank, National Association by 114.0% in the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company's stock worth $45,000 after acquiring an additional 1,605 shares during the last quarter. Core Capital Management & Research inc. purchased a new stake in shares of Flagstar Bank, National Association during the 2nd quarter valued at approximately $50,000. Signature Equity Partners LLC purchased a new stake in shares of Flagstar Bank, National Association in the first quarter worth about $74,000. Nykredit A S purchased a new position in Flagstar Bank, National Association in the 2nd quarter worth approximately $153,000. Finally, HB Wealth Management LLC raised its holdings in shares of Flagstar Bank, National Association by 16.5% during the 1st quarter. HB Wealth Management LLC now owns 12,042 shares of the company's stock valued at $159,000 after buying an additional 1,704 shares in the last quarter. Institutional investors own 67.88% of the company's stock.

Flagstar Bank, National Association Stock Up 0.3%

Shares of FLG opened at $10.50 on Friday. The stock has a 50 day moving average price of $12.11 and a 200 day moving average price of $13.43. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 70.00 and a beta of 1.05. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. Flagstar Bank, National Association has a one year low of $9.93 and a one year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last posted its quarterly earnings results on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $530.00 million during the quarter, compared to analysts' expectations of $545.12 million. During the same period last year, the company earned ($0.07) EPS. Equities research analysts forecast that Flagstar Bank, National Association will post 0.15 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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

Flagstar Bank, National Association declared that its board has approved a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Share buyback plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLG. Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 target price on shares of Flagstar Bank, National Association in a report on Tuesday. UBS Group decreased their target price on shares of Flagstar Bank, National Association from $15.50 to $14.50 and set a "buy" rating for the company in a research note on Tuesday. Royal Bank Of Canada dropped their target price on Flagstar Bank, National Association from $13.00 to $12.00 and set a "sector perform" rating on the stock in a report on Monday, October 26th. Morgan Stanley cut their price objective on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, September 28th. Finally, Weiss Ratings downgraded shares of Flagstar Bank, National Association from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.54.

Insiders Place Their Bets

In other Flagstar Bank, National Association news, Director Alan L. Frank purchased 10,000 shares of the stock in a transaction dated Tuesday, October 27th. The shares were acquired at an average cost of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director directly owned 76,463 shares of the company's stock, valued at $775,334.82. This trade represents a 15.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 21.42% of the company's stock.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar's lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.

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