Flagstar Bank, National Association (NYSE:FLG) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other research firms have also recently commented on FLG. DA Davidson reiterated a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Weiss Ratings upgraded Flagstar Bank, National Association from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Cantor Fitzgerald upped their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Barclays increased their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley lifted their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating, three have issued 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 an average price target of $16.79.

Flagstar Bank, National Association Price Performance

NYSE FLG opened at $13.47 on Friday. The firm’s fifty day simple moving average is $14.40 and its two-hundred day simple moving average is $13.94. The firm has a market capitalization of $5.59 billion, a P/E ratio of 449.00 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) EPS. Analysts forecast that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.

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

Flagstar Bank, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Trading of Flagstar Bank, National Association

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Flagstar Bank, National Association during the first quarter worth $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Flagstar Bank, National Association during the first quarter valued at $1,754,000. Goldman Sachs Group Inc. purchased a new stake in Flagstar Bank, National Association in the first quarter valued at $21,022,000. United Services Automobile Association purchased a new stake in Flagstar Bank, National Association in the first quarter valued at $219,000. Finally, Empowered Funds LLC acquired a new stake in Flagstar Bank, National Association during the 1st quarter worth about $516,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.