Flagstar Bank, National Association (NYSE:FLG) Stock Sees Unusually High Call Option Buying

Flagstar Bank, National Association (NYSE:FLG) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 16,872 call options on the company. This represents an increase of approximately 346% compared to the average volume of 3,782 call options.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock opened at $11.09 on Thursday. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day moving average price of $12.88 and a 200 day moving average price of $13.77. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 140.12 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share 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 analysts’ expectations of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) EPS. Sell-side analysts anticipate that Flagstar Bank, National Association will post 0.28 EPS for the current year.

Flagstar Bank, National Association Dividend Announcement

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

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup boosted their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Cantor Fitzgerald cut their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen reduced their price objective 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. Piper Sandler boosted their price objective on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Truist Financial reduced their price objective on shares of Flagstar Bank, National Association from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.96.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. Farther Finance Advisors LLC increased its position in Flagstar Bank, National Association by 26.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock worth $248,000 after purchasing an additional 4,376 shares in the last quarter. Core Capital Management & Research inc. purchased a new position in Flagstar Bank, National Association in the second quarter valued at approximately $50,000. Sequoia Financial Advisors LLC lifted its position in Flagstar Bank, National Association by 166.5% during the second quarter. Sequoia Financial Advisors LLC now owns 33,438 shares of the company’s stock valued at $500,000 after buying an additional 20,893 shares in the last quarter. Tidal Investments LLC acquired a new position in Flagstar Bank, National Association during the second quarter valued at approximately $207,000. Finally, Engineers Gate Manager LP acquired a new position in Flagstar Bank, National Association during the second quarter valued at approximately $8,480,000. Institutional investors and hedge funds 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.