Flagstar Bank, National Association (NYSE:FLG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Flagstar Bank, National Association (NYSE:FLG) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.9583.

A number of brokerages recently issued reports on FLG. Barclays boosted 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 Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. TD Cowen upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and upped their target price for the stock from $15.00 to $18.00 in a report on Monday, July 6th. Truist Financial raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price target for the stock from $13.50 to $17.00 in a research report on Tuesday, April 7th. Finally, Piper Sandler raised their price target on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research note on Friday, June 26th.

Flagstar Bank, National Association Trading Up 0.5%

FLG stock opened at $14.90 on Thursday. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.44. The firm’s 50-day moving average is $14.48 and its 200 day moving average is $13.78. The company has a market capitalization of $6.21 billion, a PE ratio of -67.75 and a beta of 1.01. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.90 and a quick ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.26) EPS. On average, research analysts anticipate that Flagstar Bank, National Association will post 0.43 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Sunday, June 7th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is presently -18.18%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirador Capital Partners LP lifted its position in shares of Flagstar Bank, National Association by 1.8% in the 2nd quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,571 shares during the period. Glenmede Trust Co. NA purchased a new position in Flagstar Bank, National Association during the first quarter valued at approximately $172,000. Amundi increased its holdings in Flagstar Bank, National Association by 93.9% during the first quarter. Amundi now owns 19,716 shares of the company’s stock valued at $260,000 after buying an additional 9,550 shares during the period. California State Teachers Retirement System raised its stake in Flagstar Bank, National Association by 26.2% in the first quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock worth $4,905,000 after buying an additional 77,292 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Flagstar Bank, National Association by 4.0% in the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after buying an additional 1,117 shares in the last quarter. Hedge funds and other institutional investors 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.