Flagstar Bank, National Association (NYSE:FLG) Now Covered by Analysts at Piper Sandler

Piper Sandler started coverage on shares of Flagstar Bank, National Association (NYSE:FLG) in a research report sent to investors on Monday morning. The firm issued an overweight rating and a $16.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $14.00 to $16.00 in a research note on Friday. Wall Street Zen upgraded Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Cantor Fitzgerald upped their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Finally, Citigroup increased their target price on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.86.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock opened at $12.45 on Monday. The company has a 50 day moving average price of $13.21 and a 200-day moving average price of $12.47. Flagstar Bank, National Association has a 52 week low of $9.64 and a 52 week high of $14.53. The firm has a market capitalization of $5.18 billion, a PE ratio of -24.40 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $533.00 million. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, equities research analysts expect that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Flagstar Bank, National Association Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Saturday, March 7th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, March 6th. Flagstar Bank, National Association’s dividend payout ratio is presently -7.84%.

Institutional Trading of Flagstar Bank, National Association

Several institutional investors and hedge funds have recently modified their holdings of FLG. Geode Capital Management LLC lifted its stake in shares of 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 valued at $94,277,000 after buying an additional 467,053 shares in the last quarter. Alliancebernstein L.P. increased its stake in Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after buying an additional 6,096,512 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Flagstar Bank, National Association by 4.0% during the third quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock valued at $72,669,000 after acquiring an additional 240,119 shares during the period. Dimensional Fund Advisors LP raised its holdings in Flagstar Bank, National Association by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,162,628 shares of the company’s stock valued at $77,589,000 after acquiring an additional 316,612 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Flagstar Bank, National Association by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock valued at $58,243,000 after acquiring an additional 1,750,889 shares in the last quarter. 67.88% of the stock is currently owned by institutional investors.

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.