Flagstar Bank, National Association (NYSE:FLG) Cut to “Underweight” at Morgan Stanley

Morgan Stanley lowered shares of Flagstar Bank, National Association (NYSE:FLG) from an overweight rating to an underweight rating in a research report report published on Wednesday, Marketbeat.com reports. Morgan Stanley currently has $12.00 target price on the stock, down from their previous target price of $15.00.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating for the company in a research note on Monday, October 26th. Royal Bank Of Canada cut their price objective on shares of Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Monday, October 26th. Zacks Research lowered shares of Flagstar Bank, National Association from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Truist Financial lowered their price target on shares of Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Finally, Citigroup lowered their target price on Flagstar Bank, National Association from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.12.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $10.54 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $4.38 billion, a P/E ratio of 70.30 and a beta of 1.10. Flagstar Bank, National Association has a 52 week low of $9.93 and a 52 week high of $15.44. The firm’s 50 day moving average is $11.83 and its two-hundred day moving average is $13.38.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $530.00 million for the quarter, compared to analysts’ expectations of $545.12 million. Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Research analysts forecast that Flagstar Bank, National Association will post 0.13 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, December 7th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 7th. Flagstar Bank, National Association’s dividend payout ratio (DPR) is presently 26.67%.

Flagstar Bank, National Association announced that its board has approved a stock repurchase plan on Friday, July 24th that allows the company to buy back $250 million in shares. This repurchase authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Share repurchase plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Flagstar Bank, National Association news, Director Alan L. Frank bought 10,000 shares of Flagstar Bank, National Association stock in a transaction on Tuesday, October 27th. The shares were bought at an average cost of $10.14 per share, for a total transaction of $101,400.00. Following the acquisition, the director directly owned 76,463 shares in the company, valued at $775,334.82. This represents a 15.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.42% of the company’s stock.

Institutional Trading of Flagstar Bank, National Association

Several institutional investors and hedge funds have recently bought and sold shares of FLG. North Reef Capital Management LP acquired a new position in Flagstar Bank, National Association in the first quarter worth approximately $36,744,000. Russell Investments Group Ltd. grew its holdings in Flagstar Bank, National Association by 229.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,024,153 shares of the company’s stock worth $11,952,000 after acquiring an additional 713,118 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 valued at $88,645,000 after purchasing an additional 569,003 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Flagstar Bank, National Association in the second quarter valued at approximately $8,480,000. Finally, Polar Asset Management Partners Inc. raised its holdings in Flagstar Bank, National Association by 36.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after buying an additional 437,939 shares during the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.