Flagstar Bank, National Association (NYSE:FLG) Price Target Lowered to $15.00 at Royal Bank Of Canada

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by Royal Bank Of Canada from $16.00 to $15.00 in a report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Friday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Piper Sandler upped 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 research report on Friday, June 26th. Citigroup raised their target price on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Finally, Morgan Stanley lifted their price target on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association currently has an average rating of “Moderate Buy” and an average target price of $16.79.

Flagstar Bank, National Association Stock Performance

NYSE FLG opened at $13.75 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.43. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44. The business has a 50-day moving average price of $14.52 and a 200-day moving average price of $13.82. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 458.33 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same period last year, the business posted ($0.14) EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Flagstar Bank, National Association will post 0.43 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its board has initiated a share buyback program on Friday, July 24th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Flagstar Bank, National Association Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, September 7th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Flagstar Bank, National Association’s dividend payout ratio (DPR) is currently -18.18%.

Institutional Trading of Flagstar Bank, National Association

Several hedge funds have recently modified their holdings of FLG. DV Equities LLC purchased a new position in shares of Flagstar Bank, National Association in the fourth quarter valued at $25,000. Litman Gregory Wealth Management LLC bought a new position in Flagstar Bank, National Association during the fourth quarter valued at $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Flagstar Bank, National Association during the fourth quarter valued at $34,000. Advisory Services Network LLC purchased a new position in shares of Flagstar Bank, National Association in the 3rd quarter worth $35,000. Finally, Clayton Financial Group LLC purchased a new position in shares of Flagstar Bank, National Association in the 4th quarter worth $42,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association News Summary

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Flagstar authorized a $250 million share-repurchase program. Repurchases could reduce shares outstanding and support earnings per share, while signaling management’s view that the stock is undervalued. Flagstar Bank Authorizes $250 Million Share Repurchase Program
• Positive Sentiment: The bank declared a quarterly common-stock dividend of $0.01 per share, payable September 17 to shareholders of record September 7. Although the approximately 0.3% annualized yield is modest, the continued payout may appeal to income-focused investors. Flagstar Bank Declares Quarterly Cash Dividends
• Neutral Sentiment: DA Davidson reaffirmed a “buy” rating with a $17 price target, while TD Cowen maintained a “buy” rating but reduced its target to $17 from $18. RBC also cut its target, to $15 from $16, and retained a “sector perform” rating. The targets imply potential upside, but the reductions reflect more cautious expectations following the earnings report. Analyst Ratings and Price Targets
• Negative Sentiment: Second-quarter results missed expectations: earnings were $0.05 per share versus the $0.06 consensus, while revenue of $512 million fell short of approximately $541 million. Lower year-over-year fee income drove the disappointment and pressured the shares. Higher net interest income, reduced expenses and lower credit provisions offered partial support, but investors remain focused on the bank’s limited profitability and execution risks. Flagstar Bank Shares Down on Q2 Earnings Miss

About Flagstar Bank, National Association

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.