Royal Bank Of Canada Cuts Flagstar Bank, National Association (NYSE:FLG) Price Target to $15.00

Flagstar Bank, National Association (NYSE:FLG) had its price objective reduced by Royal Bank Of Canada from $16.00 to $15.00 in a research note published on Monday,Benzinga reports. They currently have a sector perform rating on the stock.

Other research analysts have also issued research reports about the company. Morgan Stanley increased their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Barclays boosted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. UBS Group assumed coverage on Flagstar Bank, National Association in a research report on Tuesday, July 7th. They set a “buy” rating and a $18.00 target price for the company. Cantor Fitzgerald increased their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and a consensus price target of $16.79.

Flagstar Bank, National Association Trading Up 1.0%

Shares of NYSE:FLG opened at $14.12 on Monday. The stock has a market capitalization of $5.88 billion, a PE ratio of 470.50 and a beta of 1.01. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.44. The firm has a fifty day moving average price of $14.54 and a 200 day moving average price of $13.84. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.43.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results 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 company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same quarter last year, the business earned ($0.14) earnings per share. Flagstar Bank, National Association’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Flagstar Bank, National Association will post 0.37 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its board has authorized a stock repurchase program on Friday, July 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows 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 board believes its shares are undervalued.

Flagstar Bank, National Association Announces Dividend

The firm also recently disclosed 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 payout ratio is presently 133.33%.

Institutional Trading of Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. DV Equities LLC bought a new position in Flagstar Bank, National Association in the 4th quarter worth approximately $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association in the fourth quarter worth $34,000. Litman Gregory Wealth Management LLC bought a new position in Flagstar Bank, National Association during the fourth quarter worth $34,000. Advisory Services Network LLC acquired a new position in Flagstar Bank, National Association during the 3rd quarter valued at $35,000. Finally, Clayton Financial Group LLC bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.