Morgan Stanley Cuts Flagstar Bank, National Association (NYSE:FLG) Price Target to $16.00

Flagstar Bank, National Association (NYSE:FLG) had its price target trimmed by Morgan Stanley from $17.00 to $16.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also commented on the company. JPMorgan Chase & Co. upped their price target on Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Piper Sandler boosted their target price on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research note on Friday, June 26th. TD Cowen reduced their target price 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. UBS Group began coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Cantor Fitzgerald lifted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Ten 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.88.

Flagstar Bank, National Association Trading Down 1.3%

Shares of FLG opened at $11.69 on Monday. The stock has a market capitalization of $4.85 billion, a P/E ratio of 389.50 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. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. The firm has a fifty day simple moving average of $13.43 and a two-hundred day simple moving average of $13.86.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted ($0.14) earnings per share. On average, research analysts anticipate that Flagstar Bank, National Association will post 0.31 EPS for the current year.

Flagstar Bank, National Association announced that its board has authorized a stock buyback plan on Friday, July 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Flagstar Bank, National Association Announces Dividend

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

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of institutional investors have recently added to or reduced their stakes in FLG. Norges Bank bought a new position in Flagstar Bank, National Association during the 4th quarter valued at approximately $44,046,000. North Reef Capital Management LP bought a new stake in Flagstar Bank, National Association in the first quarter worth $36,744,000. SG Americas Securities LLC boosted its holdings in Flagstar Bank, National Association by 14,586.4% in the first quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock worth $27,636,000 after acquiring an additional 2,084,101 shares in the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Flagstar Bank, National Association in the fourth quarter worth $12,590,000. Finally, Interval Partners LP purchased a new stake in shares of Flagstar Bank, National Association in the fourth quarter worth $11,632,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.