Flagstar Bank, National Association (NYSE:FLG) Stock Rating Lowered by Morgan Stanley

Flagstar Bank, National Association (NYSE:FLG) was downgraded by Morgan Stanley from an “overweight” rating to an “underweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $12.00 price objective on the stock. Morgan Stanley‘s price target points to a potential upside of 13.72% from the company’s current price.

Several other equities research analysts also recently weighed in on FLG. Royal Bank Of Canada decreased their target price on shares of Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, October 26th. Citigroup dropped their price target on Flagstar Bank, National Association from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. Wall Street Zen downgraded Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. DA Davidson reaffirmed a “buy” rating and set a $17.00 price objective on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Finally, UBS Group decreased their price objective on Flagstar Bank, National Association from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.12.

Flagstar Bank, National Association Trading Down 1.8%

FLG opened at $10.55 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. Flagstar Bank, National Association has a one year low of $9.93 and a one year high of $15.44. The company has a market cap of $4.38 billion, a P/E ratio of 67.19 and a beta of 1.10. The business’s 50-day simple moving average is $11.99 and its 200-day simple moving average is $13.41.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. The company had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, equities research analysts expect that Flagstar Bank, National Association will post 0.15 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its Board of Directors has initiated a stock buyback plan on Friday, July 24th that authorizes the company to buy back $250 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Alan L. Frank bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were purchased at an average price of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the transaction, the director owned 76,463 shares in the company, valued at $775,334.82. The trade was a 15.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.42% of the company’s stock.

Institutional Investors Weigh In On Flagstar Bank, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after buying an additional 569,003 shares during the period. North Reef Capital Management LP purchased a new stake in shares of Flagstar Bank, National Association during the first quarter worth about $36,744,000. Polar Asset Management Partners Inc. raised its position in shares of Flagstar Bank, National Association by 36.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after purchasing an additional 437,939 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Flagstar Bank, National Association by 3.8% in the first quarter. Principal Financial Group Inc. now owns 673,282 shares of the company’s stock valued at $8,867,000 after acquiring an additional 24,659 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Flagstar Bank, National Association by 0.5% in the 1st quarter. Swiss National Bank now owns 617,302 shares of the company’s stock valued at $8,130,000 after purchasing an additional 2,800 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 Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.