Flagstar Bank, National Association (NYSE:FLG) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Flagstar reported quarterly EPS of $0.04, beating the consensus by $0.01, but revenue missed at $507.0M versus $556.7M and the firm remains unprofitable with a negative net margin (‑3.68%) and negative ROE (‑1.60%).
• Shares fell about 2% on the print; the stock has a market cap of $5.85B, a consensus analyst rating of “Moderate Buy” with a $15.18 price target, and the company pays a tiny quarterly dividend of $0.01 (≈0.3% yield).

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01, FiscalAI reports. The firm had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. Flagstar Bank, National Association's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) earnings per share.

Flagstar Bank, National Association Stock Down 2.0%

Shares of NYSE:FLG opened at $14.06 on Friday. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -27.57 and a beta of 1.02. The company has a 50 day moving average of $13.36 and a two-hundred day moving average of $12.74. Flagstar Bank, National Association has a 52-week low of $10.38 and a 52-week high of $14.92. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.59.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Saturday, March 7th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.04 annualized dividend and a yield of 0.3%. Flagstar Bank, National Association's dividend payout ratio (DPR) is -7.84%.

Analysts Set New Price Targets

FLG has been the subject of several research reports. Citigroup boosted their price objective on shares of Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a "buy" rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Flagstar Bank, National Association in a research note on Tuesday. Wall Street Zen lowered shares of Flagstar Bank, National Association from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. DA Davidson reaffirmed a "buy" rating and set a $16.00 price target on shares of Flagstar Bank, National Association in a research report on Tuesday, February 24th. Finally, Barclays increased their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an "overweight" rating in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. DV Equities LLC acquired a new stake in Flagstar Bank, National Association during the 4th quarter valued at $25,000. Litman Gregory Wealth Management LLC acquired a new position in Flagstar Bank, National Association in the 4th quarter worth $34,000. Advisory Services Network LLC purchased a new position in Flagstar Bank, National Association in the 3rd quarter valued at about $35,000. Kemnay Advisory Services Inc. purchased a new position in Flagstar Bank, National Association in the 4th quarter valued at about $42,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Flagstar Bank, National Association during the first quarter valued at about $45,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

About Flagstar Bank, National Association

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.