Flagstar Bank, National Association (NYSE:FLG) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on FLG. Royal Bank Of Canada cut their price objective on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Flagstar Bank, National Association from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Cantor Fitzgerald lifted their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Finally, UBS Group started coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Moderate Buy” and an average target price of $16.79.

Flagstar Bank, National Association Stock Performance

FLG opened at $13.31 on Friday. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The firm has a market capitalization of $5.52 billion, a PE ratio of 443.67 and a beta of 1.01. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $14.36 and its 200 day simple moving average is $13.93.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million during 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 firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. As a group, sell-side analysts expect that Flagstar Bank, National Association will post 0.33 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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

Flagstar Bank, National Association declared that its board has approved a share buyback program on Friday, July 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors have recently modified their holdings of FLG. DV Equities LLC bought a new position in shares of Flagstar Bank, National Association in the fourth quarter worth $25,000. Litman Gregory Wealth Management LLC acquired a new stake in Flagstar Bank, National Association during the fourth quarter worth about $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Flagstar Bank, National Association during the fourth quarter worth about $34,000. Advisory Services Network LLC bought a new position in Flagstar Bank, National Association in the 3rd quarter valued at about $35,000. Finally, Kemnay Advisory Services Inc. bought a new position in Flagstar Bank, National Association in the 4th quarter valued at about $42,000. 67.88% of the stock is currently owned by institutional investors.

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.