Flagstar Bank, National Association (NYSE:FLG) Stock Gets Price Target Cut from Royal Bank Of Canada

Flagstar Bank, National Association (NYSE:FLG) had its price target cut by Royal Bank Of Canada from $15.00 to $13.00 in a research note released on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other research firms have also issued reports on FLG. 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. TD Cowen cut their target price on Flagstar Bank, National Association from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. JPMorgan Chase & Co. decreased their price target on Flagstar Bank, National Association from $15.50 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. UBS Group assumed coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Raymond James Financial initiated coverage on Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They issued a “market perform” rating for the company. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Flagstar Bank, National Association has an average rating of “Moderate Buy” and a consensus target price of $16.04.

Flagstar Bank, National Association Price Performance

Flagstar Bank, National Association stock opened at $11.34 on Friday. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 377.83 and a beta of 1.05. The firm’s fifty day moving average is $13.07 and its 200 day moving average is $13.82. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released 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). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same quarter last year, the business earned ($0.14) EPS. Flagstar Bank, National Association’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that Flagstar Bank, National Association will post 0.28 EPS for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Monday, September 7th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, September 4th. Flagstar Bank, National Association’s payout ratio is presently 133.33%.

Flagstar Bank, National Association announced that its board has approved a stock repurchase plan on Friday, July 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its position in Flagstar Bank, National Association by 114.0% during the second quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock valued at $45,000 after acquiring an additional 1,605 shares during the last quarter. Core Capital Management & Research inc. acquired a new stake in Flagstar Bank, National Association in the second quarter valued at approximately $50,000. Signature Equity Partners LLC purchased a new position in Flagstar Bank, National Association in the first quarter worth $74,000. Nykredit A S purchased a new position in Flagstar Bank, National Association in the second quarter worth $153,000. Finally, HB Wealth Management LLC grew its holdings in Flagstar Bank, National Association by 16.5% in the first quarter. HB Wealth Management LLC now owns 12,042 shares of the company’s stock worth $159,000 after purchasing an additional 1,704 shares during the last quarter. 67.88% of the stock is owned by institutional investors.

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.