TD Cowen Cuts Flagstar Bank, National Association (NYSE:FLG) Price Target to $16.00

Flagstar Bank, National Association (NYSE:FLG) had its price target cut by TD Cowen from $17.00 to $16.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on FLG. Morgan Stanley decreased their target price on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Raymond James Financial initiated coverage on Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They set a “market perform” rating on the stock. Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. JPMorgan Chase & Co. decreased their price objective on shares of Flagstar Bank, National Association from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Finally, UBS Group initiated coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They set a “buy” rating and a $18.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $11.30 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.44. The firm’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $13.83. The firm has a market cap of $4.69 billion, a PE ratio of 376.83 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings results on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $512.00 million during the quarter, compared to analyst estimates of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. Equities analysts forecast that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The business also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio is presently 133.33%.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLG. Core Capital Management & Research inc. acquired a new stake in Flagstar Bank, National Association in the second quarter worth $50,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Flagstar Bank, National Association by 166.5% during the second quarter. Sequoia Financial Advisors LLC now owns 33,438 shares of the company’s stock valued at $500,000 after acquiring an additional 20,893 shares during the period. Tidal Investments LLC bought a new position in shares of Flagstar Bank, National Association during the second quarter worth about $207,000. Engineers Gate Manager LP bought a new position in shares of Flagstar Bank, National Association during the second quarter worth about $8,480,000. Finally, IFP Advisors Inc increased its holdings in shares of Flagstar Bank, National Association by 114.0% in 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. 67.88% of the stock is currently owned by institutional investors.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.