Flagstar Bank, National Association (NYSE:FLG) Stock Has Average Price Target of $16.38

Flagstar Bank, National Association (NYSE:FLG) has earned a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.38.

FLG has been the topic of several analyst reports. Barclays lowered their target price on Flagstar Bank, National Association from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen cut their price target on Flagstar Bank, National Association from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday. UBS Group started coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. Piper Sandler boosted their price objective on 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. Finally, Wall Street Zen lowered shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th.

Flagstar Bank, National Association Trading Up 0.5%

Flagstar Bank, National Association stock opened at $11.36 on Tuesday. The business’s fifty day moving average is $13.12 and its 200 day moving average is $13.83. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The stock has a market capitalization of $4.71 billion, a PE ratio of 378.53 and a beta of 1.05. 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 (NYSE:FLG) last issued its quarterly earnings data 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 for 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) EPS. On average, sell-side analysts predict that Flagstar Bank, National Association will post 0.28 EPS for the current year.

Flagstar Bank, National Association declared that its Board of Directors has approved a share repurchase program on Friday, July 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Monday, September 7th were given a dividend of $0.01 per share. The ex-dividend date 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 (DPR) is 133.33%.

Institutional Investors Weigh In On Flagstar Bank, National Association

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after buying an additional 569,003 shares during the last quarter. Norges Bank bought a new position in Flagstar Bank, National Association in the 4th quarter worth about $44,046,000. Private Management Group Inc. raised its stake in shares of Flagstar Bank, National Association by 1.1% during the fourth quarter. Private Management Group Inc. now owns 3,111,069 shares of the company’s stock valued at $39,168,000 after acquiring an additional 34,167 shares in the last quarter. North Reef Capital Management LP purchased a new stake in shares of Flagstar Bank, National Association in the first quarter valued at approximately $36,744,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Flagstar Bank, National Association by 14,586.4% in the first quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock valued at $27,636,000 after purchasing an additional 2,084,101 shares during the period. 67.88% of the stock is owned by institutional investors.

About Flagstar Bank, National Association

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.