Flagstar Bank, National Association (NYSE:FLG) Cut to Sell at 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 report released on Saturday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. TD Cowen dropped their target price on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Morgan Stanley raised Flagstar Bank, National Association from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $15.00 to $17.00 in a research report on Tuesday, September 8th. Piper Sandler lifted their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barclays boosted their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Finally, Citigroup raised their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.88.

Flagstar Bank, National Association Stock Performance

Shares of FLG opened at $12.04 on Friday. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 401.30 and a beta of 0.99. The company’s fifty day moving average is $13.55 and its 200-day moving average is $13.87. 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 has a 12 month low of $10.57 and a 12 month high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million during the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.Flagstar Bank, National Association’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. Equities analysts expect that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its board has approved a stock repurchase plan on Friday, July 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Flagstar Bank, National Association Announces Dividend

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

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of Flagstar Bank, National Association during the 4th quarter worth about $44,046,000. North Reef Capital Management LP bought a new stake in Flagstar Bank, National Association in the first quarter valued at about $36,744,000. SG Americas Securities LLC raised its position in Flagstar Bank, National Association by 14,586.4% in the first quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock worth $27,636,000 after purchasing an additional 2,084,101 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new position in Flagstar Bank, National Association during the fourth quarter worth about $12,590,000. Finally, Interval Partners LP bought a new position in Flagstar Bank, National Association during the fourth quarter worth about $11,632,000. 67.88% of the stock is currently owned by institutional investors.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.

The bank also has a significant mortgage business, including home-loan origination, servicing and related products.