Flagstar Bank, National Association (NYSE:FLG) Announces Quarterly Earnings Results

Flagstar Bank, National Association (NYSE:FLG) issued its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $498.00 million for the quarter. Flagstar Bank, National Association had a negative return on equity of 3.80% and a negative net margin of 7.06%.

Flagstar Bank, National Association Stock Up 0.3%

NYSE FLG traded up $0.04 during mid-day trading on Friday, reaching $10.94. 1,205,031 shares of the company’s stock traded hands, compared to its average volume of 6,051,820. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.73. Flagstar Bank, National Association has a 1-year low of $8.56 and a 1-year high of $13.35. The company has a fifty day simple moving average of $11.93 and a 200-day simple moving average of $11.76. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -11.26 and a beta of 1.19.

Flagstar Bank, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Sunday, December 7th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is currently -4.12%.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds have recently bought and sold shares of FLG. Inspire Investing LLC purchased a new position in shares of Flagstar Bank, National Association during the first quarter valued at $422,000. Mendon Capital Advisors Corp purchased a new position in Flagstar Bank, National Association during the first quarter valued at approximately $2,403,000. Mutual of America Capital Management LLC purchased a new stake in Flagstar Bank, National Association in the 1st quarter worth approximately $1,814,000. Liberty 77 Capital L.P. purchased a new position in shares of Flagstar Bank, National Association during the 1st quarter valued at $871,500,000. Finally, Comerica Bank purchased a new stake in shares of Flagstar Bank, National Association during the first quarter worth $990,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLG has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Flagstar Bank, National Association from $12.50 to $14.00 and gave the company a “neutral” rating in a report on Monday, October 27th. DA Davidson restated a “buy” rating and set a $14.50 price objective on shares of Flagstar Bank, National Association in a research report on Monday, October 27th. Cantor Fitzgerald began coverage on Flagstar Bank, National Association in a report on Wednesday, September 10th. They set an “overweight” rating and a $15.00 target price on the stock. Truist Financial raised their price target on Flagstar Bank, National Association from $12.00 to $13.50 and gave the stock a “hold” rating in a research report on Friday, September 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Flagstar Bank, National Association presently has a consensus rating of “Hold” and an average price target of $13.88.

Flagstar Bank, National Association Company Profile

Flagstar Financial, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company’s deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.