Flagstar Bank, National Association (NYSE:FLG) Earns Market Perform Rating from Analysts at Raymond James Financial

Raymond James Financial initiated coverage on shares of Flagstar Bank, National Association (NYSE:FLG) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued a market perform rating on the stock.

Several other research analysts have also issued reports on the stock. Cantor Fitzgerald upped their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Piper Sandler increased their target price on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price target on Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Barclays lifted their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Citigroup upped their price objective 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. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Flagstar Bank, National Association has a consensus rating of “Moderate Buy” and a consensus price target of $16.79.

Flagstar Bank, National Association Trading Up 0.5%

Shares of Flagstar Bank, National Association stock opened at $13.55 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.90 and a quick ratio of 0.90. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.44. The firm has a market cap of $5.62 billion, a PE ratio of 451.67 and a beta of 0.99. The company has a 50 day simple moving average of $14.22 and a two-hundred day simple moving average of $13.92.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million during 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 period in the previous year, the company earned ($0.14) EPS. Analysts expect that Flagstar Bank, National Association will post 0.33 earnings per share for the current fiscal year.

Flagstar Bank, National Association announced that its Board of Directors has initiated a share buyback plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Flagstar Bank, National Association Announces Dividend

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%.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of large investors have recently added to or reduced their stakes in FLG. Alliancebernstein L.P. boosted its position in Flagstar Bank, National Association by 1,130.1% during the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after buying an additional 6,096,512 shares during the period. California State Teachers Retirement System increased its holdings in shares of Flagstar Bank, National Association by 1,338.7% in the second quarter. California State Teachers Retirement System now owns 5,358,694 shares of the company’s stock worth $80,059,000 after buying an additional 4,986,233 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Flagstar Bank, National Association in the fourth quarter worth about $53,216,000. Norges Bank bought a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at about $44,046,000. Finally, North Reef Capital Management LP bought a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at about $36,744,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.