Flagstar Bank, National Association (NYSE:FLG) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a sell rating to a hold rating in a research note released on Sunday morning,Wall Street Zen reports.

FLG has been the topic of a number of other research reports. TD Cowen dropped their price objective on Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Citigroup lifted their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Raymond James Financial initiated coverage on shares of Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. upped their price target on shares of 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, Barclays raised 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 research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Flagstar Bank, National Association currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.79.

Flagstar Bank, National Association Trading Up 0.2%

Shares of NYSE:FLG opened at $13.55 on Friday. The company has a 50 day moving average of $14.22 and a 200-day moving average of $13.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. The firm has a market cap of $5.62 billion, a P/E ratio of 451.67 and a beta of 0.99. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS 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 analyst estimates of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. Flagstar Bank, National Association’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. As a group, analysts anticipate that Flagstar Bank, National Association will post 0.33 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio (DPR) is presently 133.33%.

Flagstar Bank, National Association declared that its Board of Directors has approved a stock repurchase program on Friday, July 24th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

Large investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Flagstar Bank, National Association by 1,338.7% during the second quarter. California State Teachers Retirement System now owns 5,358,694 shares of the company’s stock valued at $80,059,000 after buying an additional 4,986,233 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Flagstar Bank, National Association by 16.7% during the second quarter. HB Wealth Management LLC now owns 14,048 shares of the company’s stock worth $210,000 after purchasing an additional 2,006 shares during the period. AXQ Capital LP grew its position in Flagstar Bank, National Association by 141.4% during the second quarter. AXQ Capital LP now owns 115,748 shares of the company’s stock valued at $1,729,000 after purchasing an additional 67,794 shares in the last quarter. Nykredit A S purchased a new position in Flagstar Bank, National Association during the second quarter valued at approximately $153,000. Finally, Mirador Capital Partners LP increased its stake in Flagstar Bank, National Association by 1.8% in the 2nd quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock valued at $1,340,000 after buying an additional 1,571 shares during the period. Institutional investors and hedge funds 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.