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

Key Points

• Wall Street Zen downgraded Flagstar Bank (NYSE:FLG) from a "hold" to a "sell" in a research note issued Saturday.
• Despite the downgrade, the consensus from analysts remains a Moderate Buy with an average price target of $15.18 and mixed ratings across firms (1 Strong Buy, 7 Buy, 6 Hold, 1 Sell), while several analysts recently raised price targets to $16–$17.
• Flagstar beat quarterly EPS estimates ($0.06 vs. $0.02) but showed financial strain with a negative net margin (-3.68%), negative ROE (-1.60%), revenue down 10.9% year-over-year, and analysts forecasting -$0.31 EPS for the current year.

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

Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Cantor Fitzgerald boosted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, December 19th. Citigroup boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the company a "buy" rating in a report on Tuesday, February 3rd. Barclays boosted their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Truist Financial raised shares of Flagstar Bank, National Association from a "hold" rating to a "buy" rating and boosted their price objective for the company from $13.50 to $17.00 in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.18.

Flagstar Bank, National Association Stock Down 0.7%

FLG opened at $14.04 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average price of $13.30 and a 200-day moving average price of $12.56. Flagstar Bank, National Association has a twelve month low of $9.64 and a twelve month high of $14.53. The stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of -27.52 and a beta of 1.02.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. The firm had revenue of $548.00 million during the quarter, compared to analysts' expectations of $533.00 million. During the same period in the previous year, the company earned ($0.41) earnings per share. The firm's quarterly revenue was down 10.9% on a year-over-year basis. Equities research analysts forecast that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds have recently modified their holdings of the company. DV Equities LLC purchased a new stake in Flagstar Bank, National Association during the fourth quarter valued at $25,000. Ameritas Advisory Services LLC purchased a new stake in Flagstar Bank, National Association during the third quarter valued at $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Flagstar Bank, National Association during the fourth quarter valued at $34,000. Litman Gregory Wealth Management LLC purchased a new stake in Flagstar Bank, National Association during the fourth quarter valued at $34,000. Finally, Advisory Services Network LLC purchased a new stake in Flagstar Bank, National Association during the third quarter valued at $35,000. 67.88% of the stock is currently owned by institutional investors.

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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