Flagstar Bank, National Association (NYSE:FLG) Price Target Lowered to $17.00 at TD Cowen

Flagstar Bank, National Association (NYSE:FLG) had its price objective lowered by TD Cowen from $18.00 to $17.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

FLG has been the subject of a number of other research reports. UBS Group started coverage on shares of Flagstar Bank, National Association in a report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. increased 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. Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Truist Financial upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.50 to $17.00 in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada cut their price objective on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Monday. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average target price of $16.79.

Flagstar Bank, National Association Trading Down 0.7%

FLG opened at $13.75 on Monday. The stock has a market capitalization of $5.73 billion, a PE ratio of 458.33 and a beta of 1.01. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day moving average price is $14.52 and its 200 day moving average price is $13.82.

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

Flagstar Bank, National Association announced that its board has authorized a share buyback program on Friday, July 24th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Flagstar Bank, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, September 7th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is 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 currently -18.18%.

Institutional Trading of Flagstar Bank, National Association

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in Flagstar Bank, National Association in the first quarter worth approximately $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at approximately $1,754,000. Goldman Sachs Group Inc. purchased a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at approximately $21,022,000. United Services Automobile Association acquired a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at $219,000. Finally, Empowered Funds LLC acquired a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at $516,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association News Roundup

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.