Flagstar Bank, National Association $FLG Shares Sold by Sei Investments Co.

Key Points

• Sei Investments cut its Flagstar Bank stake by 42.7% in the first quarter, selling 107,024 shares and retaining 143,593 shares valued at approximately $1.9 million. Institutional investors collectively own 67.88% of FLG.
• Flagstar reported quarterly revenue of $512 million and EPS of $0.05, missing analyst estimates of $539.34 million and $0.06, respectively, although revenue increased 4% year over year.
• The company approved a $250 million share-repurchase program, covering up to 4.1% of outstanding shares. Analysts maintain a “Moderate Buy” consensus with an average price target of $16.79, compared with the stock’s recent price near $13.98.

Sei Investments Co. lowered its position in Flagstar Bank, National Association (NYSE:FLG - Free Report) by 42.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 143,593 shares of the company's stock after selling 107,024 shares during the period. Sei Investments Co.'s holdings in Flagstar Bank, National Association were worth $1,891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLG. State of Wyoming grew its holdings in shares of Flagstar Bank, National Association by 21,075.6% during the first quarter. State of Wyoming now owns 27,740 shares of the company's stock worth $365,000 after buying an additional 27,609 shares in the last quarter. Signature Equity Partners LLC purchased a new position in shares of Flagstar Bank, National Association in the first quarter worth about $74,000. Dimensional Fund Advisors LP lifted its stake 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 worth $88,645,000 after buying an additional 569,003 shares in the last quarter. Swiss National Bank boosted its position in Flagstar Bank, National Association by 0.5% during the first quarter. Swiss National Bank now owns 617,302 shares of the company's stock worth $8,130,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Spartan Wealth Advisory Services LLC acquired a new position in Flagstar Bank, National Association during the first quarter worth about $284,000. Institutional investors and hedge funds own 67.88% of the company's stock.

Flagstar Bank, National Association Trading Up 0.3%

FLG opened at $13.98 on Monday. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The stock has a market capitalization of $5.83 billion, a PE ratio of 466.17 and a beta of 1.01. The business's 50 day moving average price is $14.58 and its 200 day moving average price is $13.90. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last posted its earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The business had revenue of $512.00 million for the quarter, compared to analyst estimates of $539.34 million. During the same period last year, the business earned ($0.14) EPS. Flagstar Bank, National Association's revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that Flagstar Bank, National Association will post 0.35 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, September 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Flagstar Bank, National Association's dividend payout ratio (DPR) is presently 133.33%.

Flagstar Bank, National Association declared that its board has approved a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLG. JPMorgan Chase & Co. increased their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. UBS Group initiated coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a "buy" rating and a $18.00 target price on the stock. DA Davidson restated a "buy" rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Morgan Stanley increased their price target on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Finally, Wall Street Zen downgraded Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a research report on Saturday. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.79.

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.

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