Flagstar Bank, National Association (NYSE:FLG) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Flagstar Bank, National Association (NYSE:FLG) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.04.

FLG has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Flagstar Bank, National Association from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group initiated coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective on the stock. Piper Sandler increased their target price on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Wall Street Zen lowered shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Finally, Morgan Stanley reduced their price objective on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, September 28th.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several large investors have recently bought and sold shares of FLG. Dimensional Fund Advisors LP raised its holdings in Flagstar Bank, National Association by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after acquiring an additional 569,003 shares in the last quarter. Norges Bank bought a new position in shares of Flagstar Bank, National Association during the fourth quarter valued at $44,046,000. Private Management Group Inc. lifted its holdings in Flagstar Bank, National Association by 1.1% during the 4th quarter. Private Management Group Inc. now owns 3,111,069 shares of the company’s stock valued at $39,168,000 after purchasing an additional 34,167 shares during the last quarter. North Reef Capital Management LP acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter worth approximately $36,744,000. Finally, SG Americas Securities LLC boosted its stake 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. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Bank, National Association Price Performance

NYSE FLG opened at $11.33 on Tuesday. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.44. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 377.67 and a beta of 1.05. The company has a 50-day moving average price of $13.01 and a two-hundred day moving average price of $13.80. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43.

Flagstar Bank, National Association (NYSE:FLG) last posted 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). The business had revenue of $512.00 million during the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Analysts forecast that Flagstar Bank, National Association will post 0.28 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Monday, September 7th were paid a $0.01 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. Flagstar Bank, National Association’s payout ratio is presently 133.33%.

Flagstar Bank, National Association declared that its board has approved a share repurchase program on Friday, July 24th that allows the company to buy back $250.00 million in shares. This repurchase authorization allows the company to purchase up to 4.1% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Flagstar Bank, National Association

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.