Flagstar Bank, National Association (NYSE:FLG) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Flagstar Bank, National Association (NYSE:FLG – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.04.

FLG has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of Flagstar Bank, National Association from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Citigroup lifted their target price on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Raymond James Financial began coverage on Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They issued a “market perform” rating on the stock. Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Finally, Truist Financial decreased their price target on Flagstar Bank, National Association from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday.

Get Our Latest Research Report on FLG

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of FLG. Interval Partners LP acquired a new position in shares of Flagstar Bank, National Association in the fourth quarter valued at approximately $11,632,000. Engineers Gate Manager LP acquired a new stake in Flagstar Bank, National Association during the 2nd quarter worth approximately $8,480,000. One William Street Capital Management L.P. lifted its holdings in Flagstar Bank, National Association by 95.1% during the 4th quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company’s stock worth $5,036,000 after buying an additional 195,000 shares in the last quarter. Norges Bank acquired a new stake in Flagstar Bank, National Association during the 4th quarter worth approximately $44,046,000. Finally, California State Teachers Retirement System boosted its position in Flagstar Bank, National Association by 26.2% in the 1st quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock valued at $4,905,000 after buying an additional 77,292 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Price Performance

NYSE:FLG opened at $11.34 on Tuesday. The stock has a 50 day moving average of $13.07 and a two-hundred day moving average of $13.81. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.44. The firm has a market cap of $4.71 billion, a P/E ratio of 377.83 and a beta of 1.05. 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 – Get Free Report) last issued its earnings results 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). The company had revenue of $512.00 million during 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 firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.14) earnings per share. On average, analysts expect that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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

Flagstar Bank, National Association declared that its board has initiated a stock buyback program on Friday, July 24th that permits the company to buy back $250.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.1% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Flagstar Bank, National Association Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Flagstar Bank, National Association (NYSE:FLG)

Receive News & Ratings for Flagstar Bank National Association Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flagstar Bank National Association and related companies with MarketBeat.com's FREE daily email newsletter.