Brokerages Set Flagstar Bank, National Association (NYSE:FLG) Target Price at $16.96

Flagstar Bank, National Association (NYSE:FLG) has been given an average rating of “Moderate Buy” by the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $16.9583.

FLG has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a report on Friday, June 26th. TD Cowen reduced 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 report on Monday, July 27th. DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. Weiss Ratings raised Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, September 4th. Finally, UBS Group started coverage on Flagstar Bank, National Association in a research report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective for the company.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Flagstar Bank, National Association by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after buying an additional 467,053 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after buying an additional 569,003 shares during the period. Norges Bank acquired a new position in shares of Flagstar Bank, National Association in the fourth quarter worth about $44,046,000. Private Management Group Inc. increased its position in shares of Flagstar Bank, National Association by 1.1% in the fourth quarter. Private Management Group Inc. now owns 3,111,069 shares of the company’s stock worth $39,168,000 after acquiring an additional 34,167 shares in the last quarter. Finally, North Reef Capital Management LP purchased a new position in shares of Flagstar Bank, National Association in the first quarter worth approximately $36,744,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Trading Up 0.7%

Shares of Flagstar Bank, National Association stock opened at $12.66 on Friday. The business has a fifty day simple moving average of $13.92 and a 200-day simple moving average of $13.89. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 422.17 and a beta of 0.99. 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 quarterly 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). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The business had revenue of $512.00 million during the quarter, compared to the consensus estimate of $539.34 million. During the same quarter last year, the firm posted ($0.14) earnings per share. Flagstar Bank, National Association’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Flagstar Bank, National Association will post 0.34 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its Board of Directors has initiated a share repurchase program on Friday, July 24th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Flagstar Bank, National Association Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Monday, September 7th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Flagstar Bank, National Association’s payout ratio is 133.33%.

Flagstar Bank, National Association Company Profile

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.