Flagstar Bank, National Association (NYSE:FLG) Downgraded by Wall Street Zen to Sell

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

Several other equities analysts have also recently issued reports on FLG. Raymond James Financial assumed 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. 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. Royal Bank Of Canada decreased their price target 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 report on Monday, July 27th. JPMorgan Chase & Co. upped their price target on Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley upgraded Flagstar Bank, National Association from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $15.00 to $17.00 in a research report on Tuesday, September 8th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association currently has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Trading Down 0.1%

Shares of Flagstar Bank, National Association stock opened at $12.38 on Friday. The business has a fifty day simple moving average of $13.61 and a 200-day simple moving average of $13.86. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of 412.70 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43.

Flagstar Bank, National Association (NYSE:FLG) last released its 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). 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 for the quarter, compared to analyst estimates of $539.34 million. During the same period in the previous year, the firm earned ($0.14) earnings per share. Flagstar Bank, National Association’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Monday, September 7th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio is 133.33%.

Flagstar Bank, National Association announced that its Board of Directors has approved a stock buyback plan on Friday, July 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLG. IFP Advisors Inc raised its stake in Flagstar Bank, National Association by 114.0% during the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock valued at $45,000 after purchasing an additional 1,605 shares during the period. Core Capital Management & Research inc. acquired a new stake in shares of Flagstar Bank, National Association in the second quarter worth $50,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Flagstar Bank, National Association in the fourth quarter worth $54,000. Signature Equity Partners LLC purchased a new position in shares of Flagstar Bank, National Association during the first quarter valued at $74,000. Finally, Nykredit A S purchased a new position in shares of Flagstar Bank, National Association during the second quarter valued at $153,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.

The bank also has a significant mortgage business, including home-loan origination, servicing and related products.