Flagstar Bank, National Association’s (FLG) Buy Rating Reaffirmed at DA Davidson

Flagstar Bank, National Association (NYSE:FLG)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a research report issued on Monday,Benzinga reports. They currently have a $17.00 price target on the stock. DA Davidson’s price objective indicates a potential upside of 22.88% from the company’s current price.

Several other research analysts have also weighed in on the stock. Morgan Stanley raised their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Royal Bank Of Canada reduced their price target on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday. Citigroup lifted their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Cantor Fitzgerald raised their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Friday, July 17th. Nine 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.79.

Flagstar Bank, National Association Stock Down 0.1%

NYSE FLG traded down $0.01 during mid-day trading on Monday, reaching $13.84. 2,330,423 shares of the company’s stock traded hands, compared to its average volume of 5,021,703. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44. The company has a fifty day simple moving average of $14.51 and a 200-day simple moving average of $13.81. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.43. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 460.83 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $512.00 million during the quarter, compared to analyst estimates of $540.87 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) earnings per share. As a group, equities research analysts expect that Flagstar Bank, National Association will post 0.43 EPS for the current year.

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

Institutional Trading of Flagstar Bank, National Association

Large investors have recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Flagstar Bank, National Association by 23.6% during the fourth 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 during the last quarter. Allworth Financial LP grew its holdings in Flagstar Bank, National Association by 8.6% in the 4th 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 grew its holdings in Flagstar Bank, National Association by 6.2% in the 3rd 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 increased its position in Flagstar Bank, National Association by 0.9% in the 4th quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock valued at $1,473,000 after acquiring an additional 1,075 shares during the period. Finally, Empowered Funds LLC raised its stake in Flagstar Bank, National Association by 4.0% during the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock valued at $386,000 after acquiring an additional 1,117 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Company 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.