Analysts Set Flagstar Bank, National Association (NYSE:FLG) Price Target at $16.96

Flagstar Bank, National Association (NYSE:FLG) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.7917.

A number of equities analysts have recently issued reports on FLG shares. Morgan Stanley upped 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. Citigroup raised their price objective 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. Piper Sandler boosted their target price 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. UBS Group initiated coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Wall Street Zen upgraded shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of large investors have recently added to or reduced their stakes in the business. Sippican Capital Advisors grew its stake in shares of Flagstar Bank, National Association by 100.1% during the fourth quarter. Sippican Capital Advisors now owns 148,805 shares of the company’s stock valued at $1,873,000 after buying an additional 74,425 shares during the last quarter. One William Street Capital Management L.P. lifted its stake in shares of Flagstar Bank, National Association by 95.1% in the 4th quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company’s stock valued at $5,036,000 after acquiring an additional 195,000 shares during the last quarter. Interval Partners LP bought a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at about $11,632,000. Norges Bank purchased a new stake in Flagstar Bank, National Association during the 4th quarter valued at about $44,046,000. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in Flagstar Bank, National Association during the 4th quarter valued at about $12,590,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $14.12 on Thursday. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $5.88 billion, a P/E ratio of 470.50 and a beta of 1.01. The company has a fifty day moving average of $14.54 and a 200-day moving average of $13.84.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, July 24th. The company reported $0.05 earnings per share (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 company had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $539.34 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts predict that Flagstar Bank, National Association will post 0.37 EPS 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 Dividend Announcement

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%.

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.