Wall Street Zen Upgrades Flagstar Bank, National Association (NYSE:FLG) to “Hold”

Flagstar Bank, National Association (NYSE:FLG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other research firms have also recently commented on FLG. Cantor Fitzgerald increased their target price on shares of 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. Piper Sandler upped their price target on 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. Citigroup raised their price objective on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. DA Davidson reaffirmed a “buy” rating and set a $17.00 target price on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Finally, TD Cowen decreased their price target on Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and a consensus target price of $16.79.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $14.01 on Friday. The company has a market capitalization of $5.82 billion, a PE ratio of 467.00 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. The company has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $13.95. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. During the same quarter in the prior year, the business posted ($0.14) earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts expect that Flagstar Bank, National Association will post 0.35 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its Board of Directors has approved a share buyback program on Friday, July 24th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire 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 stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

Large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Flagstar Bank, National Association by 23.6% in the fourth quarter. UMB Bank n.a. now owns 3,766 shares of the company’s stock worth $47,000 after purchasing an additional 719 shares during the last quarter. Allworth Financial LP boosted its position in Flagstar Bank, National Association by 8.6% in the fourth quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock valued at $138,000 after buying an additional 869 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Flagstar Bank, National Association by 6.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock worth $185,000 after buying an additional 936 shares during the period. Collar Capital Management LLC increased its holdings in Flagstar Bank, National Association by 0.9% in the 4th quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock worth $1,473,000 after buying an additional 1,075 shares during the period. Finally, Empowered Funds LLC raised its position in Flagstar Bank, National Association by 4.0% during the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after buying an additional 1,117 shares during the last quarter. Hedge funds and other 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.