Flagstar Bank, National Association (NYSE:FLG) Rating Lowered to Sell at Wall Street Zen

Flagstar Bank, National Association (NYSE:FLG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on FLG. 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 note on Wednesday, July 15th. UBS Group started coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target for the company. Piper Sandler boosted their price target on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. DA Davidson reissued a “buy” rating and issued a $17.00 price objective on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Finally, Royal Bank Of Canada cut their price target on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.79.

Flagstar Bank, National Association Price Performance

Shares of FLG opened at $13.98 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44. The company has a market cap of $5.83 billion, a P/E ratio of 466.17 and a beta of 1.01. The firm’s 50 day moving average price is $14.58 and its 200 day moving average price is $13.90.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data 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). The company had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. On average, research analysts forecast that Flagstar Bank, National Association will post 0.35 earnings per share for the current fiscal year.

Flagstar Bank, National Association declared that its board has approved a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of FLG. DV Equities LLC purchased a new position in shares of Flagstar Bank, National Association during the fourth quarter worth about $25,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Flagstar Bank, National Association during the fourth quarter worth about $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at about $34,000. Advisory Services Network LLC purchased a new stake in shares of Flagstar Bank, National Association in the 3rd quarter valued at about $35,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at about $42,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.