Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Lowered at TD Cowen

Flagstar Bank, National Association (NYSE:FLG) had its price objective trimmed by TD Cowen from $17.00 to $16.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently issued reports on FLG. Barclays reduced their price target on shares of Flagstar Bank, National Association from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group started coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen lowered shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Piper Sandler lifted their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, DA Davidson reissued a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Flagstar Bank, National Association presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Flagstar Bank, National Association Trading Down 1.3%

Shares of Flagstar Bank, National Association stock opened at $11.55 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.44. The stock has a 50 day moving average price of $13.29 and a two-hundred day moving average price of $13.85. The stock has a market capitalization of $4.79 billion, a PE ratio of 384.97 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Flagstar Bank, National Association will post 0.31 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Monday, September 7th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, September 4th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is 133.33%.

Flagstar Bank, National Association declared that its Board of Directors has authorized a stock repurchase plan on Friday, July 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Flagstar Bank, National Association

Several institutional investors have recently made changes to their positions in FLG. Norges Bank purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth approximately $44,046,000. North Reef Capital Management LP bought a new stake in shares of Flagstar Bank, National Association in the 1st quarter worth approximately $36,744,000. SG Americas Securities LLC lifted its stake in Flagstar Bank, National Association by 14,586.4% in the first quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock valued at $27,636,000 after purchasing an additional 2,084,101 shares during the last quarter. Interval Partners LP purchased a new position in Flagstar Bank, National Association in the fourth quarter valued at approximately $11,632,000. Finally, Dimensional Fund Advisors LP grew its holdings in Flagstar Bank, National Association by 9.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after purchasing an additional 569,003 shares during the period. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.