Flagstar Bank, National Association (NYSE:FLG) Stock Has Consensus Price Target of $14.54 According to Analysts

Flagstar Bank, National Association (NYSE:FLG) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.12.

A number of analysts have recently weighed in on FLG shares. Morgan Stanley lowered Flagstar Bank, National Association from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $15.00 to $12.00 in a research note on Wednesday. Zacks Research downgraded Flagstar Bank, National Association from a “hold” rating to a “strong sell” rating in a research report on Friday, October 30th. TD Cowen lowered their target price on Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Raymond James Financial started coverage on shares of Flagstar Bank, National Association in a report on Wednesday, September 2nd. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada dropped their price target on Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday, October 26th.

Flagstar Bank, National Association Stock Performance

FLG stock opened at $10.54 on Friday. The stock’s fifty day moving average is $11.83 and its two-hundred day moving average is $13.38. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 67.19 and a beta of 1.10. Flagstar Bank, National Association has a 1 year low of $9.93 and a 1 year high of $15.44. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings data on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $530.00 million for the quarter, compared to the consensus estimate 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 prior year, the firm posted ($0.07) earnings per share. On average, research analysts predict that Flagstar Bank, National Association will post 0.13 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 7th. Flagstar Bank, National Association’s payout ratio is presently 26.67%.

Flagstar Bank, National Association declared that its board has authorized a stock repurchase program on Friday, July 24th that allows the company to repurchase $250 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Flagstar Bank, National Association

In related news, Director Alan L. Frank acquired 10,000 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was acquired at an average price of $10.14 per share, with a total value of $101,400.00. Following the acquisition, the director directly owned 76,463 shares of the company’s stock, valued at approximately $775,334.82. This trade represents a 15.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 21.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its position in shares of Flagstar Bank, National Association by 4.0% during the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after acquiring an additional 1,117 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Flagstar Bank, National Association by 0.5% during the first quarter. D.A. Davidson & CO. now owns 278,650 shares of the company’s stock worth $3,670,000 after purchasing an additional 1,400 shares during the last quarter. State of Michigan Retirement System raised its position in Flagstar Bank, National Association by 2.0% during the first quarter. State of Michigan Retirement System now owns 72,095 shares of the company’s stock valued at $949,000 after purchasing an additional 1,400 shares in the last quarter. Mirador Capital Partners LP increased its stake in shares of Flagstar Bank, National Association by 1.8% during the second quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock valued at $1,340,000 after purchasing an additional 1,571 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Flagstar Bank, National Association by 114.0% in the second quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after purchasing an additional 1,605 shares in the last quarter. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Flagstar Bank, National Association

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.