Flagstar Bank, National Association (NYSE:FLG) Receives $16.79 Consensus PT from Brokerages

Shares of Flagstar Bank, National Association (NYSE:FLG) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.7917.

Several brokerages have issued reports on FLG. UBS Group initiated coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price objective for the company. DA Davidson reaffirmed a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Morgan Stanley increased their price target on 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. Cantor Fitzgerald upped their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Finally, Citigroup increased their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th.

Flagstar Bank, National Association Stock Performance

NYSE:FLG opened at $13.47 on Monday. The stock has a 50-day moving average price of $14.52 and a 200 day moving average price of $13.95. The stock has a market capitalization of $5.59 billion, a P/E ratio of 449.00 and a beta of 1.01. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.44. 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 (NYSE:FLG) last posted its earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) earnings per share. Equities research analysts forecast that Flagstar Bank, National Association will post 0.35 EPS for the current fiscal year.

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

Flagstar Bank, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, September 7th will be issued a $0.01 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is presently 133.33%.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of FLG. Interval Partners LP bought a new position in shares of Flagstar Bank, National Association in the 4th quarter worth $11,632,000. One William Street Capital Management L.P. boosted its position in 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 valued at $5,036,000 after purchasing an additional 195,000 shares in the last quarter. Norges Bank purchased a new position in Flagstar Bank, National Association in the fourth quarter valued at about $44,046,000. BW Gestao de Investimentos Ltda. purchased a new position in Flagstar Bank, National Association in the fourth quarter valued at about $12,590,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Flagstar Bank, National Association by 106.8% in the first 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. 67.88% of the stock is owned by institutional investors.

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.