Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Lowered at Barclays

Flagstar Bank, National Association (NYSE:FLG) had its price target lowered by Barclays from $17.00 to $15.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also weighed in on FLG. JPMorgan Chase & Co. reduced their price objective on shares of Flagstar Bank, National Association from $15.50 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 1st. Weiss Ratings raised shares of Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Royal Bank Of Canada cut 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, July 27th. Piper Sandler lifted their price target on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, TD Cowen decreased their price target on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, July 27th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Flagstar Bank, National Association currently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

Flagstar Bank, National Association Trading Down 1.3%

NYSE FLG opened at $11.55 on Monday. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.44. The stock has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $13.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $4.79 billion, a PE ratio of 384.97 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 0.98% and a net margin of 1.08%.Flagstar Bank, National Association’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. Research analysts forecast that Flagstar Bank, National Association will post 0.31 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Monday, September 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio is presently 133.33%.

Flagstar Bank, National Association announced that its board has initiated a share repurchase program on Friday, July 24th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase 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 shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in shares of Flagstar Bank, National Association by 114.0% during the second quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after acquiring an additional 1,605 shares in the last quarter. Core Capital Management & Research inc. bought a new position in Flagstar Bank, National Association during the 2nd quarter worth about $50,000. Signature Equity Partners LLC bought a new position in Flagstar Bank, National Association during the 1st quarter worth about $74,000. Nykredit A S acquired a new stake in shares of Flagstar Bank, National Association in the 2nd quarter valued at about $153,000. Finally, HB Wealth Management LLC raised its stake in shares of Flagstar Bank, National Association by 16.5% in the 1st quarter. HB Wealth Management LLC now owns 12,042 shares of the company’s stock valued at $159,000 after purchasing an additional 1,704 shares during the period. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

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.