Wall Street Zen Downgrades Flagstar Bank, National Association (NYSE:FLG) to Sell

Flagstar Bank, National Association (NYSE:FLG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

FLG has been the subject of several other research reports. Citigroup raised their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Barclays upped their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Royal Bank Of Canada dropped their price objective on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday, July 27th. Weiss Ratings lowered shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 18th. Finally, TD Cowen cut their target price on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Flagstar Bank, National Association has an average rating of “Moderate Buy” and an average price target of $16.96.

Flagstar Bank, National Association Price Performance

NYSE:FLG opened at $12.38 on Friday. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.44. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 412.70 and a beta of 0.99. The stock’s 50 day moving average price is $13.61 and its two-hundred day moving average price is $13.87. 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 (NYSE:FLG) last issued its earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $512.00 million for the quarter, compared to the consensus estimate 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 was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. On average, analysts anticipate that Flagstar Bank, National Association will post 0.33 earnings per share for the current year.

Flagstar Bank, National Association declared that its board has approved a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

Several institutional investors and hedge funds have recently bought and sold shares of FLG. Core Capital Management & Research inc. acquired a new stake in Flagstar Bank, National Association during the second quarter worth about $50,000. Sequoia Financial Advisors LLC raised its position in shares of Flagstar Bank, National Association by 166.5% in the 2nd 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 shares of Flagstar Bank, National Association in the 2nd quarter valued at approximately $207,000. Engineers Gate Manager LP acquired a new position in shares of Flagstar Bank, National Association in the 2nd quarter valued at approximately $8,480,000. Finally, IFP Advisors Inc lifted its holdings in shares of Flagstar Bank, National Association by 114.0% during the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock worth $45,000 after acquiring an additional 1,605 shares during the period. Institutional investors own 67.88% of the company’s stock.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.

The bank also has a significant mortgage business, including home-loan origination, servicing and related products.