Flagstar Bank, National Association (NYSE:FLG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a sell rating to a hold rating in a report published on Sunday morning,Wall Street Zen reports.

FLG has been the subject of a number of other research reports. TD Cowen decreased their price target on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, July 27th. UBS Group initiated coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective on the stock. Morgan Stanley upped their target price on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. DA Davidson restated a “buy” rating and issued a $17.00 target price on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Finally, Citigroup lifted their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Stock Performance

FLG opened at $13.49 on Friday. The company has a market cap of $5.60 billion, a P/E ratio of 449.57 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. The firm’s 50-day moving average price is $14.16 and its 200-day moving average price is $13.91. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released its 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). The company had revenue of $512.00 million during the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) earnings per share. As a group, equities analysts anticipate that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. boosted its position in Flagstar Bank, National Association by 23.6% in the 4th quarter. UMB Bank n.a. now owns 3,766 shares of the company’s stock worth $47,000 after purchasing an additional 719 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Flagstar Bank, National Association by 8.6% during the 4th quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock valued at $138,000 after purchasing an additional 869 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Flagstar Bank, National Association by 6.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock valued at $185,000 after purchasing an additional 936 shares in the last quarter. Collar Capital Management LLC lifted its stake in shares of Flagstar Bank, National Association by 0.9% in the 4th quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock valued at $1,473,000 after purchasing an additional 1,075 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Flagstar Bank, National Association by 4.0% in the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock valued at $386,000 after purchasing an additional 1,117 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Flagstar Bank, National Association

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.