Barclays Cuts Flagstar Bank, National Association (NYSE:FLG) Price Target to $15.00

Flagstar Bank, National Association (NYSE:FLG) had its price objective decreased by Barclays from $17.00 to $15.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

FLG has been the topic of a number of other research reports. Wall Street Zen downgraded Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. JPMorgan Chase & Co. decreased their price target on shares of Flagstar Bank, National Association from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Weiss Ratings raised shares of Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Royal Bank Of Canada dropped their price objective 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 note on Monday, July 27th. Finally, Raymond James Financial initiated coverage on shares of Flagstar Bank, National Association in a research note on Wednesday, September 2nd. They issued a “market perform” rating on the stock. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.38.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock opened at $11.30 on Monday. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 376.83 and a beta of 1.05. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year 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. The stock’s fifty day simple moving average is $13.18 and its 200-day simple moving average is $13.83.

Flagstar Bank, National Association (NYSE:FLG) last announced 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). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The business had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $539.34 million. During the same period in the prior year, the company posted ($0.14) earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association declared that its Board of Directors has authorized a stock repurchase program on Friday, July 24th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Flagstar Bank, National Association Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Monday, September 7th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio is presently 133.33%.

Institutional Investors Weigh In On Flagstar Bank, National Association

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after buying an additional 569,003 shares during the last quarter. Norges Bank acquired a new stake in Flagstar Bank, National Association in the fourth quarter valued at approximately $44,046,000. Private Management Group Inc. lifted its stake in Flagstar Bank, National Association by 1.1% in the fourth quarter. Private Management Group Inc. now owns 3,111,069 shares of the company’s stock valued at $39,168,000 after acquiring an additional 34,167 shares during the last quarter. North Reef Capital Management LP bought a new stake in Flagstar Bank, National Association in the first quarter worth approximately $36,744,000. Finally, SG Americas Securities LLC grew its position 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 worth $27,636,000 after acquiring an additional 2,084,101 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

About Flagstar Bank, National Association

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.