JPMorgan Chase & Co. Cuts Flagstar Bank, National Association (NYSE:FLG) Price Target to $14.00

Flagstar Bank, National Association (NYSE:FLG) had its price target lowered by JPMorgan Chase & Co. from $15.50 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 18th. Barclays lifted 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 note on Tuesday, July 7th. UBS Group began coverage on shares of Flagstar Bank, National Association in a research report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective for the company. DA Davidson restated a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Finally, Cantor Fitzgerald raised their target price 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. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.62.

Flagstar Bank, National Association Stock Up 0.3%

FLG stock opened at $11.72 on Thursday. The company has a market cap of $4.87 billion, a PE ratio of 390.73 and a beta of 1.05. The business has a 50-day simple moving average of $13.33 and a 200 day simple moving average of $13.84. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.44. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm had revenue of $512.00 million for the quarter, compared to analyst estimates of $539.34 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Flagstar Bank, National Association will post 0.31 EPS for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Monday, September 7th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Flagstar Bank, National Association’s payout ratio is 133.33%.

Flagstar Bank, National Association announced that its Board of Directors has initiated a stock repurchase plan on Friday, July 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Core Capital Management & Research inc. acquired a new stake in Flagstar Bank, National Association in the second quarter valued at approximately $50,000. Sequoia Financial Advisors LLC increased its holdings in shares of Flagstar Bank, National Association by 166.5% during the second quarter. Sequoia Financial Advisors LLC now owns 33,438 shares of the company’s stock worth $500,000 after buying an additional 20,893 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Flagstar Bank, National Association in the 2nd quarter valued at $207,000. Engineers Gate Manager LP bought a new position in shares of Flagstar Bank, National Association in the 2nd quarter valued at $8,480,000. Finally, IFP Advisors Inc lifted its stake in shares of Flagstar Bank, National Association by 114.0% in the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock valued at $45,000 after acquiring an additional 1,605 shares during the last quarter. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.