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

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 Saturday morning.

FLG has been the topic of a number of other research reports. Cantor Fitzgerald raised 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 report on Wednesday. Piper Sandler raised their price target on Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. Royal Bank Of Canada boosted their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. UBS Group initiated coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective for the company. Finally, TD Cowen raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Monday, July 6th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Flagstar Bank, National Association has a consensus rating of “Moderate Buy” and a consensus target price of $16.96.

Flagstar Bank, National Association Stock Performance

Flagstar Bank, National Association stock opened at $14.89 on Friday. 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 has a 12 month low of $10.57 and a 12 month high of $15.44. The company has a fifty day moving average price of $14.42 and a two-hundred day moving average price of $13.73. The company has a market cap of $6.21 billion, a PE ratio of -67.69 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The company had revenue of $507.00 million for the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Sunday, June 7th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is -18.18%.

Institutional Trading of Flagstar Bank, National Association

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in shares of Flagstar Bank, National Association by 23.6% during the 4th quarter. UMB Bank n.a. now owns 3,766 shares of the company’s stock worth $47,000 after buying an additional 719 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Flagstar Bank, National Association by 8.6% in the fourth quarter. Allworth Financial LP now owns 10,994 shares of the company’s stock valued at $138,000 after acquiring an additional 869 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Flagstar Bank, National Association by 6.2% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,060 shares of the company’s stock valued at $185,000 after acquiring an additional 936 shares in the last quarter. Collar Capital Management LLC increased its stake in shares of Flagstar Bank, National Association by 0.9% during the fourth quarter. Collar Capital Management LLC now owns 117,025 shares of the company’s stock valued at $1,473,000 after acquiring an additional 1,075 shares during the period. Finally, Empowered Funds LLC raised its holdings in Flagstar Bank, National Association by 4.0% during the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock worth $386,000 after purchasing an additional 1,117 shares in the last quarter. 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.