Flagstar Bank, National Association (NYSE:FLG) Announces Quarterly Dividend of $0.01

Key Points

• Flagstar announced a quarterly dividend of $0.01 per share, payable September 17 to shareholders of record on September 7. The dividend carries an annualized yield of approximately 0.3%, with an ex-dividend date of September 4.
• Flagstar’s latest quarterly results fell short of expectations, with EPS of $0.05 versus the $0.06 consensus estimate and revenue of $512 million versus $540.87 million expected. The stock declined 0.7% to $13.75.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $16.79, implying potential upside from the reported trading price.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) announced a quarterly dividend on Monday, July 27th. Investors of record on Monday, September 7th will be paid a dividend of 0.01 per share on Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th.

Flagstar Bank, National Association has decreased its dividend payment by an average of 0.5%annually over the last three years. Flagstar Bank, National Association has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Flagstar Bank, National Association to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.7%.

Flagstar Bank, National Association Stock Down 0.7%

FLG traded down $0.10 during trading on Monday, hitting $13.75. The company had a trading volume of 6,464,249 shares, compared to its average volume of 5,055,349. The company has a market cap of $5.73 billion, a PE ratio of 458.33 and a beta of 1.01. The business has a 50-day moving average of $14.51 and a 200-day moving average of $13.81. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.97 and a quick ratio of 0.97. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $540.87 million. Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The company'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. As a group, analysts forecast that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. TD Cowen lowered their price objective on Flagstar Bank, National Association from $18.00 to $17.00 and set a "buy" rating for the company in a report on Monday. Cantor Fitzgerald upped their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. 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 report on Wednesday, July 1st. Finally, Morgan Stanley lifted their target price on 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. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to 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 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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