Wall Street Zen Upgrades Flagstar Bank, National Association (NYSE:FLG) to Hold

Key Points

• Wall Street Zen upgraded Flagstar Bank from “sell” to “hold.” Overall analyst sentiment remains “Moderate Buy,” with a consensus price target of $16.79.
• Flagstar’s shares opened at $13.55, compared with a 12-month range of $10.57 to $15.44. The company’s latest quarterly results missed expectations, reporting $0.05 EPS versus the $0.06 consensus and revenue of $512 million versus $539.34 million expected.
• The board approved a $250 million stock buyback, allowing the company to repurchase 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 upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

FLG has been the subject of a number of other reports. JPMorgan Chase & Co. increased their target price on Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Royal Bank Of Canada cut their price target on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Monday, July 27th. Raymond James Financial began coverage on shares of Flagstar Bank, National Association in a report on Wednesday. They issued a "market perform" rating for the company. Morgan Stanley increased their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Finally, TD Cowen dropped their price objective on shares of Flagstar Bank, National Association from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.79.

Flagstar Bank, National Association Stock Up 0.5%

FLG opened at $13.55 on Friday. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 451.67 and a beta of 0.99. The firm's 50-day simple moving average is $14.22 and its 200-day simple moving average is $13.92.

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

Flagstar Bank, National Association announced that its board has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in Flagstar Bank, National Association during the 1st quarter worth about $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at about $1,754,000. Goldman Sachs Group Inc. acquired a new stake in shares of Flagstar Bank, National Association in the first quarter valued at about $21,022,000. United Services Automobile Association acquired a new stake in shares of Flagstar Bank, National Association in the first quarter valued at about $219,000. Finally, Empowered Funds LLC bought a new stake in Flagstar Bank, National Association during the first quarter worth about $516,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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