Flagstar Bank, National Association (NYSE:FLG) Releases Quarterly Earnings Results, Meets Expectations

Flagstar Bank, National Association (NYSE:FLG) announced its quarterly earnings data on Friday. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04, FiscalAI reports. The company had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.26) EPS.

Flagstar Bank, National Association Stock Down 0.7%

NYSE FLG traded down $0.10 during mid-day trading on Friday, hitting $14.26. The company’s stock had a trading volume of 6,838,943 shares, compared to its average volume of 5,255,221. The company’s 50 day simple moving average is $13.37 and its 200 day simple moving average is $12.72. Flagstar Bank, National Association has a twelve month low of $10.38 and a twelve month high of $14.92. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of -27.99 and a beta of 1.02.

Flagstar Bank, National Association Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Saturday, March 7th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association’s dividend payout ratio (DPR) is presently -7.84%.

Institutional Trading of Flagstar Bank, National Association

Several hedge funds have recently bought and sold shares of FLG. AQR Capital Management LLC bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $1,754,000. Goldman Sachs Group Inc. bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $21,022,000. United Services Automobile Association bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $219,000. Finally, Empowered Funds LLC bought a new position in Flagstar Bank, National Association during the 1st quarter valued at $516,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Friday, March 13th. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. DA Davidson reissued a “buy” rating and issued a $16.00 price target on shares of Flagstar Bank, National Association in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.18.

Flagstar Bank, National Association Company Profile

Flagstar Financial Corporation (NYSE: FLG) is a bank holding company whose principal subsidiary, Flagstar Bank, provides a range of financial services across the United States. Headquartered in Troy, Michigan, Flagstar combines commercial banking, mortgage lending and servicing, and deposit products to serve individuals, businesses and public entities. As a publicly traded company, Flagstar leverages its banking charter and national mortgage platform to deliver tailored financial solutions through both digital and branch channels.

The company’s mortgage business is one of the largest residential originators and servicers in the nation, offering retail, wholesale and correspondent lending channels.