Flagstar Bank, National Association (NYSE:FLG) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $17.00 target price on the stock, up from their previous target price of $15.00.

A number of other research firms have also recently commented on FLG. TD Cowen lowered their target price on Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Cantor Fitzgerald increased their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Raymond James Financial began coverage on Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They set a “market perform” rating for the company. Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. Finally, Weiss Ratings raised shares of Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, September 4th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.96.

Flagstar Bank, National Association Price Performance

FLG stock opened at $13.26 on Tuesday. 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. The firm has a 50-day moving average of $14.10 and a 200 day moving average of $13.90. The company has a market cap of $5.50 billion, a P/E ratio of 441.83 and a beta of 0.99.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $539.34 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Flagstar Bank, National Association will post 0.34 EPS for the current year.

Flagstar Bank, National Association announced that its board has authorized a stock 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 reacquire up to 4.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Flagstar Bank, National Association Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors 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 annualized dividend and a dividend yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is presently 133.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLG. Alliancebernstein L.P. raised its position in shares of Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after purchasing an additional 6,096,512 shares during the last quarter. California State Teachers Retirement System grew its position in Flagstar Bank, National Association by 1,338.7% during the 2nd quarter. California State Teachers Retirement System now owns 5,358,694 shares of the company’s stock valued at $80,059,000 after purchasing an additional 4,986,233 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Flagstar Bank, National Association during the 4th quarter valued at about $53,216,000. Norges Bank bought a new stake in Flagstar Bank, National Association during the 4th quarter valued at about $44,046,000. Finally, North Reef Capital Management LP bought a new stake in Flagstar Bank, National Association during the 1st quarter valued at about $36,744,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.