Flagstar Bank, National Association to Issue Quarterly Dividend of $0.01 (NYSE:FLG)

Flagstar Bank, National Association (NYSE:FLG) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Monday, September 7th will be paid a dividend of 0.01 per share on Thursday, September 17th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th.

Flagstar Bank, National Association has decreased its dividend by an average of 0.5%annually over the last three years. Flagstar Bank, National Association has a dividend payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flagstar Bank, National Association to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.7%.

Flagstar Bank, National Association Stock Performance

FLG stock traded down $0.10 during mid-day trading on Monday, reaching $13.75. The company had a trading volume of 6,464,249 shares, compared to its average volume of 5,055,349. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The stock has a market capitalization of $5.73 billion, a P/E ratio of 458.33 and a beta of 1.01. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.43. The stock’s 50-day simple moving average is $14.51 and its two-hundred day simple moving average is $13.81.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm had revenue of $512.00 million for the quarter, compared to the consensus estimate of $540.87 million. During the same quarter in the prior year, the company posted ($0.14) EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Flagstar Bank, National Association will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

FLG has been the subject of several recent analyst reports. TD Cowen decreased their target price on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday. Citigroup lifted their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Morgan Stanley increased their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Truist Financial upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their target price for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. Finally, Wall Street Zen raised Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.79.

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.