Equities researchers at Raymond James Financial assumed coverage on shares of Flagstar Bank, National Association (NYSE:FLG – Get Free Report) in a note issued to investors on Wednesday. The firm set a “market perform” rating on the stock.
Several other equities analysts also recently commented on FLG. Barclays boosted 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 Tuesday, July 7th. UBS Group initiated coverage on Flagstar Bank, National Association in a research report on Tuesday, July 7th. They set a “buy” rating and a $18.00 target price for the company. TD Cowen lowered their price target on Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Weiss Ratings raised Flagstar Bank, National Association from a “sell (e+)” rating to a “sell (d+)” rating in a report on Friday, August 21st. 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 analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.79.
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Flagstar Bank, National Association Price Performance
Flagstar Bank, National Association (NYSE:FLG – Get Free Report) last issued 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). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. During the same period in the prior year, the company posted ($0.14) EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.
Flagstar Bank, National Association announced that its board has approved a share 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Hedge Funds Weigh In On Flagstar Bank, National Association
Several institutional investors have recently added to or reduced their stakes in FLG. DV Equities LLC purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter worth approximately $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Flagstar Bank, National Association in the fourth quarter valued at $34,000. Litman Gregory Wealth Management LLC purchased a new stake in Flagstar Bank, National Association during the fourth quarter valued at $34,000. Advisory Services Network LLC bought a new stake in shares of Flagstar Bank, National Association in the 3rd quarter worth about $35,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at about $42,000. 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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