Vanguard Group Inc. Has $403.82 Million Stock Position in Flagstar Bank, National Association $FLG

Key Points

• Vanguard trimmed its stake in Flagstar by 1.0% to 32,074,631 shares, leaving it with a 7.71% ownership worth about $403.82 million.
• Flagstar beat EPS estimates with $0.04 for the quarter but missed revenue ($507M vs. $556.7M consensus), has negative ROE/net margin, and announced a $0.01 quarterly dividend (0.3% yield).
• Analysts are mixed: the consensus rating is "Hold" with a $15.39 target, although several firms recently upgraded the stock and raised targets into the $16–$17 range; FLG trades near $14.41 with a ~$6.0B market cap.

Vanguard Group Inc. lowered its holdings in Flagstar Bank, National Association (NYSE:FLG - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,074,631 shares of the company's stock after selling 325,496 shares during the quarter. Vanguard Group Inc. owned 7.71% of Flagstar Bank, National Association worth $403,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLG. Alliancebernstein L.P. grew its holdings in Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company's stock valued at $70,341,000 after buying an additional 6,096,512 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company's stock valued at $44,187,000 after buying an additional 2,894,424 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Flagstar Bank, National Association during the 1st quarter worth approximately $21,022,000. Barclays PLC grew its holdings in shares of Flagstar Bank, National Association by 118.3% during the 3rd quarter. Barclays PLC now owns 3,118,855 shares of the company's stock worth $36,023,000 after purchasing an additional 1,690,435 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Flagstar Bank, National Association by 132.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,699,958 shares of the company's stock worth $19,635,000 after purchasing an additional 968,854 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company's stock.

Flagstar Bank, National Association Trading Up 3.6%

FLG stock opened at $14.41 on Thursday. The company has a market cap of $6.00 billion, a P/E ratio of -65.48 and a beta of 1.03. Flagstar Bank, National Association has a twelve month low of $10.38 and a twelve month high of $14.92. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.47. The business has a fifty day moving average of $13.39 and a 200-day moving average of $12.85.

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 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 the consensus estimate of $556.74 million. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The firm's quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Flagstar Bank, National Association will post 0.47 EPS 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. Investors of record on Sunday, June 7th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Bank, National Association's payout ratio is -18.18%.

Wall Street Analyst Weigh In

FLG has been the topic of several recent research reports. Truist Financial raised Flagstar Bank, National Association from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $13.50 to $17.00 in a report on Tuesday, April 7th. Barclays boosted their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Tuesday, April 7th. Piper Sandler boosted their price target on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company an "overweight" rating in a research note on Monday, April 27th. JPMorgan Chase & Co. boosted their price target on Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a "neutral" rating in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $14.00 to $16.00 in a research note on Friday, March 13th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Flagstar Bank, National Association has a consensus rating of "Hold" and a consensus target price of $15.39.

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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