Flagstar Bank, National Association (NYSE:FLG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a sell rating to a hold rating in a research note published on Sunday morning.

FLG has been the topic of several other research reports. UBS Group started coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. TD Cowen reduced their target price on Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Morgan Stanley boosted their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Citigroup upped their price target on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, 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 note on Wednesday, July 15th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average price target of $16.79.

Flagstar Bank, National Association Price Performance

NYSE:FLG opened at $13.85 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.44. The business’s 50-day moving average is $14.59 and its 200 day moving average is $13.95. The company has a market capitalization of $5.75 billion, a P/E ratio of 461.67 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data 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). The firm had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned ($0.14) earnings per share. On average, equities research analysts forecast that Flagstar Bank, National Association will post 0.35 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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 issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a 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 of Directors has initiated a stock buyback plan on Friday, July 24th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

Hedge funds have recently bought and sold shares of the stock. One William Street Capital Management L.P. grew its stake in shares of Flagstar Bank, National Association by 95.1% during the fourth quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company’s stock worth $5,036,000 after acquiring an additional 195,000 shares during the last quarter. Interval Partners LP purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at approximately $11,632,000. Norges Bank purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter valued at approximately $44,046,000. BW Gestao de Investimentos Ltda. acquired a new stake in Flagstar Bank, National Association in the 4th quarter worth approximately $12,590,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Flagstar Bank, National Association by 106.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock worth $8,049,000 after purchasing an additional 315,691 shares in the last quarter. Hedge funds and other institutional investors 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.