Flagstar Bank, National Association (NYSE:FLG) Stock Rating Lowered by Wall Street Zen

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

Several other analysts have also weighed in on the stock. UBS Group assumed coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective for the company. Barclays boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. TD Cowen cut their price objective on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Finally, Cantor Fitzgerald upped their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Nine 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.79.

Flagstar Bank, National Association Stock Performance

Shares of NYSE:FLG opened at $13.47 on Friday. The business’s fifty day moving average price is $14.40 and its two-hundred day moving average price is $13.94. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 449.00 and a beta of 1.01. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.90 and a quick ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, July 24th. The company reported $0.05 earnings per share (EPS) 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 company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts predict that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.

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

Institutional Trading of Flagstar Bank, National Association

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in shares of Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after acquiring an additional 6,096,512 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Flagstar Bank, National Association by 1,338.7% during the 2nd quarter. California State Teachers Retirement System now owns 5,358,694 shares of the company’s stock valued at $80,059,000 after purchasing an additional 4,986,233 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at approximately $53,216,000. Norges Bank acquired a new position in Flagstar Bank, National Association during the 4th quarter worth approximately $44,046,000. Finally, North Reef Capital Management LP acquired a new position in Flagstar Bank, National Association during the 1st quarter worth approximately $36,744,000. Institutional investors own 67.88% of the company’s stock.

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.