Intech Investment Management LLC Sells 176,058 Shares of Flagstar Bank, National Association $FLG

Key Points

• Intech Investment Management cut its stake in Flagstar Financial by 59.9% in the fourth quarter, selling 176,058 shares and leaving it with 117,964 shares valued at about $1.49 million.
• The stock has drawn mixed institutional interest overall, with several firms adding to positions and 67.88% of shares now held by institutional investors.
• Flagstar reported Q1 EPS of $0.04, topping estimates, while analysts currently have a consensus Hold rating with an average price target of $15.42.

Intech Investment Management LLC reduced its holdings in Flagstar Bank, National Association (NYSE:FLG - Free Report) by 59.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 117,964 shares of the company's stock after selling 176,058 shares during the quarter. Intech Investment Management LLC's holdings in Flagstar Bank, National Association were worth $1,485,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in Flagstar Bank, National Association by 310.8% in the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company's stock valued at $44,187,000 after purchasing an additional 2,894,424 shares during the period. Old West Investment Management LLC purchased a new stake in Flagstar Bank, National Association in the third quarter valued at $3,124,000. Allianz Asset Management GmbH raised its holdings in shares of Flagstar Bank, National Association by 28.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 184,470 shares of the company's stock valued at $2,131,000 after buying an additional 40,374 shares during the period. TD Asset Management Inc raised its holdings in shares of Flagstar Bank, National Association by 134.3% in the 3rd quarter. TD Asset Management Inc now owns 155,084 shares of the company's stock valued at $1,791,000 after buying an additional 88,890 shares during the period. Finally, Polar Asset Management Partners Inc. raised its holdings in shares of Flagstar Bank, National Association by 268.4% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 345,953 shares of the company's stock valued at $3,996,000 after buying an additional 252,053 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $14.01 on Friday. The business has a 50-day moving average of $13.88 and a 200 day moving average of $13.23. Flagstar Bank, National Association has a 12 month low of $10.38 and a 12 month high of $14.92. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of -63.66 and a beta of 1.02. 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 - Get Free Report) last announced its earnings results on Friday, April 24th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $507.00 million during the quarter, compared to analysts' expectations of $556.74 million. During the same period last year, the business posted ($0.26) EPS. Flagstar Bank, National Association's revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Flagstar Bank, National Association will post 0.47 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FLG shares. Barclays boosted their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Flagstar Bank, National Association in a report on Tuesday, April 21st. DA Davidson upped their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Morgan Stanley upped their price target on Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, March 2nd. Finally, Citigroup upped their price target on Flagstar Bank, National Association from $16.50 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $15.42.

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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