Flagstar Bank, National Association (NYSE:FLG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flagstar Bank, National Association (NYSE:FLG) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.9583.

Several research analysts recently weighed in on FLG shares. TD Cowen reduced their price objective on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Cantor Fitzgerald upped their target price 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 Wednesday, July 15th. Barclays increased their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Citigroup lifted their price target on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, UBS Group started coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target for the company.

Institutional Investors Weigh In On Flagstar Bank, National Association

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

Flagstar Bank, National Association Stock Down 0.0%

NYSE:FLG opened at $13.26 on Friday. 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. The stock’s fifty day simple moving average is $14.10 and its 200-day simple moving average is $13.90. The firm has a market capitalization of $5.50 billion, a P/E ratio of 441.83 and a beta of 0.99.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $512.00 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Equities research analysts expect that Flagstar Bank, National Association will post 0.34 earnings per share for the current year.

Flagstar Bank, National Association declared that its board has initiated a share repurchase plan on Friday, July 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Flagstar Bank, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, September 4th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association’s payout ratio is currently 133.33%.

Flagstar Bank, National Association Company Profile

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.