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

Wall Street Zen cut shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other research firms have also recently issued reports on FLG. JPMorgan Chase & Co. increased their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Citigroup upped their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Cantor Fitzgerald increased their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. UBS Group began coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, DA Davidson reaffirmed a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Nine 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.79.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $13.98 on Friday. The business has a 50-day moving average price of $14.58 and a two-hundred day moving average price of $13.89. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.43. The company has a market cap of $5.83 billion, a P/E ratio of 466.17 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, July 24th. The company reported $0.05 EPS 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 business had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Flagstar Bank, National Association will post 0.35 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be paid a dividend of $0.01 per share. The ex-dividend date 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 payout ratio is 133.33%.

Flagstar Bank, National Association announced that its Board of Directors has approved a share repurchase program on Friday, July 24th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after acquiring an additional 6,096,512 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Flagstar Bank, National Association in the fourth quarter worth $53,216,000. Norges Bank purchased a new position in Flagstar Bank, National Association in the fourth quarter worth $44,046,000. North Reef Capital Management LP bought a new position in Flagstar Bank, National Association in the 1st quarter valued at $36,744,000. Finally, SG Americas Securities LLC increased its position in shares of Flagstar Bank, National Association by 14,586.4% during the 1st quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock valued at $27,636,000 after purchasing an additional 2,084,101 shares during the last quarter. 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.