Flagstar Bank, National Association (NYSE:FLG) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Flagstar Bank to “Sell” from “Hold,” although the broader analyst consensus remains “Moderate Buy,” with 10 Buy, 3 Hold, and 1 Sell ratings and a $16.96 average price target.
• Flagstar shares opened at $12.38, below their 50-day and 200-day moving averages. The bank reported quarterly EPS of $0.05, missing the $0.06 estimate, while revenue of $512 million also fell short of expectations.
• The company authorized a $250 million stock buyback, allowing repurchases of up to 4.1% of outstanding shares; institutional investors own 67.88% of the stock.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. DA Davidson reissued a "buy" rating and issued a $17.00 price objective on shares of Flagstar Bank, National Association in a research report on Monday, July 27th. TD Cowen cut their price target on Flagstar Bank, National Association from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Citigroup increased their price target on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Weiss Ratings downgraded Flagstar Bank, National Association from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, September 18th. Finally, UBS Group began coverage on 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 equities research 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.96.

Flagstar Bank, National Association Trading Down 0.1%

FLG opened at $12.38 on Friday. The firm has a market capitalization of $5.14 billion, a P/E ratio of 412.70 and a beta of 0.99. The firm's 50 day moving average is $13.61 and its 200-day moving average is $13.86. Flagstar Bank, National Association has a 52-week low of $10.57 and a 52-week high of $15.44. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) 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). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The firm had revenue of $512.00 million during the quarter, compared to analysts' expectations of $539.34 million. During the same quarter last year, the company posted ($0.14) earnings per share. Flagstar Bank, National Association's revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts expect that Flagstar Bank, National Association will post 0.33 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its Board of Directors has initiated a stock 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 typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

Several institutional investors have recently added to or reduced their stakes in the business. Collar Capital Management LLC boosted its stake in Flagstar Bank, National Association by 0.9% during the 4th quarter. Collar Capital Management LLC now owns 117,025 shares of the company's stock valued at $1,473,000 after purchasing an additional 1,075 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Flagstar Bank, National Association by 4.0% in the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company's stock worth $386,000 after buying an additional 1,117 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Flagstar Bank, National Association by 6.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,106 shares of the company's stock valued at $241,000 after buying an additional 1,127 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Flagstar Bank, National Association by 2.0% in the first quarter. State of Michigan Retirement System now owns 72,095 shares of the company's stock valued at $949,000 after buying an additional 1,400 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in Flagstar Bank, National Association by 0.5% during the first quarter. D.A. Davidson & CO. now owns 278,650 shares of the company's stock valued at $3,670,000 after buying an additional 1,400 shares in the last quarter. Institutional investors own 67.88% of the company's stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service commercial bank that provides deposit, lending and other financial services to consumers, businesses and commercial real estate clients. Its offerings include checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending, commercial real estate financing and business banking services.

The bank also has a significant mortgage business, including home-loan origination, servicing and related products.

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