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

Flagstar Bank, National Association (NYSE:FLG) has been given an average rating of “Moderate Buy” by the fourteen analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $14.54.

A number of equities research analysts have recently commented on the stock. Citigroup cut their price target on shares of Flagstar Bank, National Association from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating for the company in a report on Monday, October 26th. Barclays lowered their price objective on Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Morgan Stanley cut their target price on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. Finally, Wall Street Zen lowered Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a report on Saturday, September 26th.

Flagstar Bank, National Association Price Performance

Shares of FLG opened at $10.50 on Friday. Flagstar Bank, National Association has a fifty-two week low of $9.93 and a fifty-two week high of $15.44. The firm’s 50-day simple moving average is $12.11 and its two-hundred day simple moving average is $13.43. The stock has a market cap of $4.36 billion, a PE ratio of 70.00 and a beta of 1.05. 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 earnings results on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. The company had revenue of $530.00 million during the quarter, compared to the consensus estimate of $545.12 million. During the same period last year, the firm posted ($0.07) earnings per share. Analysts anticipate that Flagstar Bank, National Association will post 0.15 earnings per share for the current fiscal year.

Flagstar Bank, National Association announced that its board has approved a stock repurchase plan on Friday, July 24th that allows the company to buy back $250 million in shares. This buyback authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Share buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, December 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is 26.67%.

Insider Transactions at Flagstar Bank, National Association

In related news, Director Alan L. Frank bought 10,000 shares of the stock in a transaction on Tuesday, October 27th. The shares were acquired at an average price of $10.14 per share, for a total transaction of $101,400.00. Following the purchase, the director owned 76,463 shares of the company’s stock, valued at approximately $775,334.82. The trade was a 15.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.42% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new stake in Flagstar Bank, National Association in the second quarter worth approximately $8,480,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Flagstar Bank, National Association by 106.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock worth $8,049,000 after purchasing an additional 315,691 shares during the period. Polar Asset Management Partners Inc. raised its stake in Flagstar Bank, National Association by 36.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after buying an additional 437,939 shares during the last quarter. California State Teachers Retirement System raised its stake in Flagstar Bank, National Association by 26.2% during the 1st quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock valued at $4,905,000 after buying an additional 77,292 shares during the last quarter. Finally, Cannell & Spears LLC purchased a new stake in Flagstar Bank, National Association during the 1st quarter valued at $1,788,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Company Profile

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.