Flagstar Bank, National Association (NYSE:FLG) Stock Now Rated “Hold” by Sell-Side Brokerages

Flagstar Bank, National Association (NYSE:FLG) has received an average rating of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.12.

FLG has been the subject of a number of research analyst reports. Citigroup lowered their price target on Flagstar Bank, National Association from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 price objective on shares of Flagstar Bank, National Association in a research note on Tuesday, October 27th. Royal Bank Of Canada decreased their price objective on shares of Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Monday, October 26th. Barclays lowered their target price on shares of Flagstar Bank, National Association from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Weiss Ratings cut shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, October 27th.

Insiders Place Their Bets

In other Flagstar Bank, National Association news, Director Alan L. Frank acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The shares were purchased at an average price of $10.14 per share, for a total transaction of $101,400.00. Following the completion of the purchase, the director directly owned 76,463 shares in the company, valued at $775,334.82. The trade was a 15.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 21.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc lifted its stake in shares of Flagstar Bank, National Association by 114.0% in the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after acquiring an additional 1,605 shares during the period. Core Capital Management & Research inc. bought a new position in Flagstar Bank, National Association during the 2nd quarter valued at $50,000. Signature Equity Partners LLC bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $74,000. Nykredit A S bought a new position in Flagstar Bank, National Association during the 2nd quarter valued at $153,000. Finally, HB Wealth Management LLC increased its position in shares of Flagstar Bank, National Association by 16.5% during the 1st quarter. HB Wealth Management LLC now owns 12,042 shares of the company’s stock valued at $159,000 after purchasing an additional 1,704 shares during the period. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Flagstar Bank, National Association Price Performance

FLG opened at $10.96 on Friday. The company has a 50-day moving average of $11.94 and a 200-day moving average of $13.40. The company has a market capitalization of $4.55 billion, a P/E ratio of 65.88 and a beta of 1.10. Flagstar Bank, National Association has a 1-year low of $9.93 and a 1-year high of $15.44. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. The company had revenue of $530.00 million during the quarter, compared to analyst estimates of $545.12 million. During the same quarter last year, the company posted ($0.07) EPS. Equities analysts expect that Flagstar Bank, National Association will post 0.14 EPS for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, December 7th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 7th. Flagstar Bank, National Association’s dividend payout ratio is currently 26.67%.

Flagstar Bank, National Association announced that its Board of Directors has authorized a share repurchase plan on Friday, July 24th that allows the company to repurchase $250 million in outstanding shares. This buyback authorization allows the company to buy up to 4.1% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s management believes its stock is undervalued.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.