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

Flagstar Bank, National Association (NYSE:FLG) had its price objective lowered by Barclays from $14.00 to $13.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on FLG. Wall Street Zen cut shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Zacks Research downgraded shares of Flagstar Bank, National Association from a “hold” rating to a “strong sell” rating in a research note on Friday, October 30th. Morgan Stanley lowered their price target on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, September 28th. JPMorgan Chase & Co. dropped their price target on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating on the stock in a research note on Monday, October 26th. Finally, Weiss Ratings downgraded shares of Flagstar Bank, National Association from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, October 27th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.12.

Flagstar Bank, National Association Stock Performance

Shares of NYSE:FLG opened at $10.60 on Tuesday. The business’s 50-day simple moving average is $11.88 and its 200 day simple moving average is $13.39. The company has a market cap of $4.40 billion, a P/E ratio of 70.68 and a beta of 1.10. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. Flagstar Bank, National Association has a one year low of $9.93 and a one year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. The company had revenue of $530.00 million during the quarter, compared to analysts’ expectations of $545.12 million. During the same quarter in the prior year, the company earned ($0.07) EPS. On average, sell-side analysts forecast that Flagstar Bank, National Association will post 0.14 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, December 7th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 7th. Flagstar Bank, National Association’s dividend payout ratio is presently 26.67%.

Flagstar Bank, National Association declared that its Board of Directors has initiated a share buyback plan on Friday, July 24th that allows the company to buy back $250 million in shares. This repurchase authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Share repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Flagstar Bank, National Association

In related news, Director Alan L. Frank purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was acquired at an average price of $10.14 per share, with a total value of $101,400.00. Following the completion of the transaction, the director owned 76,463 shares of the company’s stock, valued at $775,334.82. This represents a 15.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.42% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLG. Jacobi Capital Management LLC bought a new stake in shares of Flagstar Bank, National Association in the 3rd quarter valued at approximately $49,000. Retirement Systems of Alabama lifted its stake in Flagstar Bank, National Association by 0.7% during the third quarter. Retirement Systems of Alabama now owns 312,545 shares of the company’s stock worth $3,647,000 after purchasing an additional 2,148 shares during the last quarter. Private Management Group Inc. lifted its stake in Flagstar Bank, National Association by 0.5% during the third quarter. Private Management Group Inc. now owns 3,086,505 shares of the company’s stock worth $36,020,000 after purchasing an additional 15,665 shares during the last quarter. Vise Technologies Inc. acquired a new position in Flagstar Bank, National Association in the third quarter worth $170,000. Finally, State of Wyoming boosted its holdings in Flagstar Bank, National Association by 22.0% in the third quarter. State of Wyoming now owns 41,607 shares of the company’s stock worth $486,000 after purchasing an additional 7,514 shares during the period. 67.88% of the stock is currently owned by institutional investors.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.