Wall Street Zen upgraded shares of Flagstar Bank, National Association (NYSE:FLG – Free Report) from a sell rating to a hold rating in a research note released on Sunday.
Several other research analysts have also recently weighed in on the stock. Cantor Fitzgerald boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Piper Sandler raised their target price on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. UBS Group assumed coverage on shares of Flagstar Bank, National Association in a research report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price for the company. Royal Bank Of Canada decreased their target price on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a research note on Monday, July 27th. Finally, DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.79.
Check Out Our Latest Analysis on Flagstar Bank, National Association
Flagstar Bank, National Association Price Performance
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) earnings per share. As a group, equities research analysts anticipate that Flagstar Bank, National Association will post 0.35 earnings per share for the current fiscal year.
Flagstar Bank, National Association announced that its board has approved a share 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 typically an indication that the company’s leadership believes its shares are undervalued.
Flagstar Bank, National Association Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is currently 133.33%.
Institutional Trading of Flagstar Bank, National Association
Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in Flagstar Bank, National Association during the 1st quarter valued at approximately $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flagstar Bank, National Association during the first quarter valued at approximately $1,754,000. Goldman Sachs Group Inc. bought a new stake in shares of Flagstar Bank, National Association during the first quarter valued at approximately $21,022,000. United Services Automobile Association purchased a new position in shares of Flagstar Bank, National Association in the first quarter worth $219,000. Finally, Empowered Funds LLC bought a new position in shares of Flagstar Bank, National Association during the first quarter worth $516,000. 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.
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