Flagstar Bank, National Association (NYSE:FLG) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other research analysts have also recently weighed in on the company. Cantor Fitzgerald lifted their price objective 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. UBS Group began coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price for the company. TD Cowen decreased their target price on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Weiss Ratings downgraded shares of Flagstar Bank, National Association from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. Finally, Royal Bank Of Canada dropped their price target on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a research report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.79.

Flagstar Bank, National Association Price Performance

Shares of Flagstar Bank, National Association stock opened at $13.98 on Friday. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The stock’s fifty day moving average is $14.58 and its 200 day moving average is $13.91. The stock has a market cap of $5.83 billion, a P/E ratio of 466.00 and a beta of 1.01. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results 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). The company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. Sell-side analysts anticipate that Flagstar Bank, National Association will post 0.35 earnings per share for the current year.

Flagstar Bank, National Association declared that its board has authorized a share repurchase program on Friday, July 24th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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, September 17th. Stockholders of record on Monday, September 7th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio is 133.33%.

Institutional Trading of Flagstar Bank, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirador Capital Partners LP boosted its stake in Flagstar Bank, National Association by 1.8% in the 2nd quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,571 shares during the period. Glenmede Trust Co. NA bought a new stake in shares of Flagstar Bank, National Association during the first quarter valued at approximately $172,000. Amundi raised its position 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 buying an additional 9,550 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Flagstar Bank, National Association by 26.2% during the first 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, Empowered Funds LLC lifted its holdings in shares of Flagstar Bank, National Association by 4.0% in the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after buying an additional 1,117 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

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.