Flagstar Bank, National Association’s (FLG) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of Flagstar Bank, National Association (NYSE:FLG) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $17.00 price objective on the stock.

Several other research firms have also issued reports on FLG. Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. TD Cowen upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price objective for the company from $15.00 to $18.00 in a report on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Barclays boosted their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Finally, Citigroup upped their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Nine investment 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. According to data from MarketBeat, Flagstar Bank, National Association has an average rating of “Moderate Buy” and an average target price of $16.79.

Flagstar Bank, National Association Stock Down 0.7%

NYSE:FLG opened at $13.75 on Monday. Flagstar Bank, National Association has a fifty-two week low of $10.57 and a fifty-two week high of $15.44. The stock has a market capitalization of $5.73 billion, a P/E ratio of 458.33 and a beta of 1.01. 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 company’s 50-day simple moving average is $14.52 and its 200-day simple moving average is $13.82.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data 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 firm had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. During the same quarter last year, the firm earned ($0.14) EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

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

Flagstar Bank, National Association announced that its board has authorized a stock 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 buy up to 4.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sippican Capital Advisors grew its holdings in shares of Flagstar Bank, National Association by 100.1% during the fourth quarter. Sippican Capital Advisors now owns 148,805 shares of the company’s stock valued at $1,873,000 after buying an additional 74,425 shares during the last quarter. One William Street Capital Management L.P. increased its position in shares of Flagstar Bank, National Association by 95.1% in the 4th quarter. One William Street Capital Management L.P. now owns 400,000 shares of the company’s stock valued at $5,036,000 after acquiring an additional 195,000 shares during the period. Interval Partners LP purchased a new position in Flagstar Bank, National Association in the 4th quarter worth $11,632,000. Norges Bank purchased a new position in Flagstar Bank, National Association in the 4th quarter worth $44,046,000. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in Flagstar Bank, National Association during the 4th quarter worth about $12,590,000. Hedge funds and other institutional investors 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

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.