Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Lowered at Morgan Stanley

Flagstar Bank, National Association (NYSE:FLG) had its price objective lowered by Morgan Stanley from $17.00 to $16.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

FLG has been the topic of several other reports. Citigroup upped their price objective 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. Piper Sandler boosted their price target on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Royal Bank Of Canada dropped their target price on 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. Finally, UBS Group assumed coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.88.

Flagstar Bank, National Association Stock Performance

NYSE:FLG opened at $12.04 on Monday. The company has a market capitalization of $5.00 billion, a P/E ratio of 401.30 and a beta of 0.99. The business has a fifty day simple moving average of $13.55 and a two-hundred day simple moving average of $13.87. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.90 and a quick ratio of 0.90. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $539.34 million. During the same period in the prior year, the company earned ($0.14) EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Flagstar Bank, National Association will post 0.33 earnings per share for the current year.

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

Flagstar Bank, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Monday, September 7th were issued 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 of this dividend was Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio is 133.33%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at about $44,046,000. North Reef Capital Management LP bought a new stake in Flagstar Bank, National Association during the first quarter valued at approximately $36,744,000. SG Americas Securities LLC grew its stake in Flagstar Bank, National Association by 14,586.4% in the 1st quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock worth $27,636,000 after buying an additional 2,084,101 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new position in shares of Flagstar Bank, National Association in the 4th quarter worth $12,590,000. Finally, Interval Partners LP purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at $11,632,000. 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.