Flagstar Bank, National Association (NYSE:FLG) Announces Quarterly Earnings Results

Flagstar Bank, National Association (NYSE:FLG) issued its quarterly earnings data on Friday. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04, FiscalAI reports. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The business had revenue of $507.00 million for the quarter, compared to analysts’ expectations of $556.74 million. During the same period last year, the business earned ($0.26) EPS. The business’s revenue was up 1.6% on a year-over-year basis.

Flagstar Bank, National Association Stock Performance

Shares of NYSE FLG traded down $0.10 during mid-day trading on Friday, reaching $14.26. 6,838,943 shares of the company’s stock were exchanged, compared to its average volume of 5,255,221. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -27.99 and a beta of 1.02. Flagstar Bank, National Association has a 52 week low of $10.38 and a 52 week high of $14.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a 50-day moving average price of $13.37 and a two-hundred day moving average price of $12.72.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Saturday, March 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, March 6th. Flagstar Bank, National Association’s payout ratio is presently -7.84%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FLG. Citigroup raised their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Morgan Stanley lifted their target price on Flagstar Bank, National Association from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. lifted their target price on Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. Barclays lifted their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Truist Financial upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.50 to $17.00 in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $15.18.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. DV Equities LLC bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at about $25,000. Litman Gregory Wealth Management LLC bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at about $34,000. Advisory Services Network LLC bought a new stake in Flagstar Bank, National Association in the 3rd quarter valued at about $35,000. Kemnay Advisory Services Inc. bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at about $42,000. Finally, Geneos Wealth Management Inc. bought a new stake in Flagstar Bank, National Association in the 1st quarter valued at about $45,000. 67.88% of the stock is currently owned by institutional investors.

Flagstar Bank, National Association Company Profile

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.