Flagstar Bank, National Association Sees Unusually High Options Volume (NYSE:FLG)

Flagstar Bank, National Association (NYSE:FLG) was the target of unusually large options trading on Thursday. Investors purchased 9,000 call options on the company. This is an increase of 54% compared to the typical daily volume of 5,834 call options.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and upped their price target for the stock from $15.00 to $18.00 in a research note on Monday, July 6th. Royal Bank Of Canada boosted their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, April 27th. Piper Sandler upped their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Barclays raised their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Finally, Morgan Stanley boosted their price target on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Stock Up 2.2%

Flagstar Bank, National Association stock traded up $0.34 during mid-day trading on Thursday, hitting $15.35. The company’s stock had a trading volume of 1,078,420 shares, compared to its average volume of 5,018,412. The firm’s 50 day moving average is $14.39 and its 200 day moving average is $13.70. The company has a market cap of $6.40 billion, a PE ratio of -69.84 and a beta of 1.01. 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 1.47, a current ratio of 0.90 and a quick ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $507.00 million during the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.Flagstar Bank, National Association’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned ($0.26) earnings per share. On average, analysts anticipate that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Flagstar Bank, National Association Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Sunday, June 7th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Friday, June 5th. Flagstar Bank, National Association’s payout ratio is currently -18.18%.

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors have recently added to or reduced their stakes in the business. DV Equities LLC acquired a new position in shares of Flagstar Bank, National Association during the 4th quarter worth $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter valued at $34,000. Litman Gregory Wealth Management LLC bought a new stake in Flagstar Bank, National Association in the fourth quarter worth $34,000. Advisory Services Network LLC bought a new stake in Flagstar Bank, National Association in the third quarter worth $35,000. Finally, Clayton Financial Group LLC acquired a new position in Flagstar Bank, National Association during the fourth quarter worth $42,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.