Flagstar Bank, National Association Sees Unusually High Options Volume (NYSE:FLG)

Flagstar Bank, National Association (NYSE:FLG) was the target of unusually large options trading activity on Thursday. Investors bought 9,000 call options on the company. This is an increase of approximately 54% compared to the typical daily volume of 5,834 call options.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FLG shares. TD Cowen upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, July 6th. DA Davidson raised their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Citigroup lifted their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. boosted their price target on 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. Finally, Cantor Fitzgerald upped their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.96.

Flagstar Bank, National Association Stock Down 3.1%

Shares of NYSE FLG opened at $14.89 on Friday. The stock has a market capitalization of $6.21 billion, a P/E ratio of -67.69 and a beta of 1.01. The stock’s fifty day moving average is $14.42 and its 200 day moving average is $13.73. Flagstar Bank, National Association has a 52 week low of $10.57 and a 52 week high of $15.44. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.90 and a current ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) EPS. Sell-side analysts forecast that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Sunday, June 7th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is presently -18.18%.

Hedge Funds Weigh In On Flagstar Bank, National Association

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirador Capital Partners LP lifted its stake in Flagstar Bank, National Association by 1.8% in the second quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock valued at $1,340,000 after buying an additional 1,571 shares during the period. Glenmede Trust Co. NA bought a new stake in Flagstar Bank, National Association in the first quarter valued at $172,000. Amundi raised its holdings in shares of Flagstar Bank, National Association by 93.9% during the first quarter. Amundi now owns 19,716 shares of the company’s stock valued at $260,000 after purchasing an additional 9,550 shares during the period. California State Teachers Retirement System grew its stake in shares of Flagstar Bank, National Association by 26.2% in 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 period. Finally, Empowered Funds LLC raised its stake in Flagstar Bank, National Association by 4.0% during the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after buying an additional 1,117 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

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.