Flagstar Bank, National Association (NYSE:FLG) Receives $16.96 Average PT from Brokerages

Shares of Flagstar Bank, National Association (NYSE:FLG) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.7917.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Friday, July 17th. Royal Bank Of Canada dropped their target price on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Monday. Barclays lifted their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Citigroup boosted their price objective on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald upped their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th.

Flagstar Bank, National Association News Summary

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Flagstar authorized a $250 million share-repurchase program. Repurchases could reduce shares outstanding and support earnings per share, while signaling management’s view that the stock is undervalued. Flagstar Bank Authorizes $250 Million Share Repurchase Program
• Positive Sentiment: The bank declared a quarterly common-stock dividend of $0.01 per share, payable September 17 to shareholders of record September 7. Although the approximately 0.3% annualized yield is modest, the continued payout may appeal to income-focused investors. Flagstar Bank Declares Quarterly Cash Dividends
• Neutral Sentiment: DA Davidson reaffirmed a “buy” rating with a $17 price target, while TD Cowen maintained a “buy” rating but reduced its target to $17 from $18. RBC also cut its target, to $15 from $16, and retained a “sector perform” rating. The targets imply potential upside, but the reductions reflect more cautious expectations following the earnings report. Analyst Ratings and Price Targets
• Negative Sentiment: Second-quarter results missed expectations: earnings were $0.05 per share versus the $0.06 consensus, while revenue of $512 million fell short of approximately $541 million. Lower year-over-year fee income drove the disappointment and pressured the shares. Higher net interest income, reduced expenses and lower credit provisions offered partial support, but investors remain focused on the bank’s limited profitability and execution risks. Flagstar Bank Shares Down on Q2 Earnings Miss

Flagstar Bank, National Association Stock Performance

Flagstar Bank, National Association stock opened at $13.75 on Thursday. The company’s 50-day moving average price is $14.52 and its 200-day moving average price is $13.82. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44. The company has a market cap of $5.73 billion, a PE ratio of 458.33 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data 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). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The company had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. During the same period in the previous year, the business earned ($0.14) earnings per share. Flagstar Bank, National Association’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Flagstar Bank, National Association will post 0.43 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its Board of Directors has approved a share buyback program on Friday, July 24th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, September 7th will be paid a $0.01 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is -18.18%.

Institutional Trading of Flagstar Bank, National Association

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirador Capital Partners LP lifted its position in Flagstar Bank, National Association by 1.8% during the second quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock valued at $1,340,000 after purchasing an additional 1,571 shares during the period. Glenmede Trust Co. NA purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter valued at approximately $172,000. Amundi grew its position in shares of Flagstar Bank, National Association by 93.9% in 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 boosted its holdings in 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 worth $4,905,000 after buying an additional 77,292 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Flagstar Bank, National Association by 4.0% during the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after purchasing an additional 1,117 shares in the last quarter. 67.88% of the stock is currently 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.