Flagstar Bank, National Association (NYSE:FLG) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Flagstar Bank (NYSE: FLG) from “Sell” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with a $16.79 price target.
• Flagstar’s latest quarterly results fell slightly short of expectations, with EPS of $0.05 versus $0.06 estimated and revenue of $512 million versus $539.34 million expected; however, revenue increased 4% year over year.
• The company authorized a $250 million share buyback, allowing it to repurchase up to 4.1% of outstanding shares, and institutional investors own 67.88% of the stock.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

A number of other equities analysts also recently weighed in on the stock. UBS Group initiated coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They set a "buy" rating and a $18.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. JPMorgan Chase & Co. upped their price objective 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. Barclays increased their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Finally, Citigroup lifted their target price 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. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.79.

Flagstar Bank, National Association Trading Down 0.2%

NYSE FLG opened at $14.25 on Friday. The company has a market cap of $5.91 billion, a P/E ratio of 474.87 and a beta of 1.01. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.44. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50-day moving average of $14.60 and a 200-day moving average of $13.93.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last released its 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). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The company had revenue of $512.00 million during the quarter, compared to analyst estimates of $539.34 million. During the same period in the prior year, the business posted ($0.14) earnings per share. Flagstar Bank, National Association's revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Flagstar Bank, National Association will post 0.35 earnings per share for the current year.

Flagstar Bank, National Association declared that its board has authorized a stock buyback plan on Friday, July 24th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors have recently added to or reduced their stakes in FLG. DV Equities LLC purchased a new position in Flagstar Bank, National Association in the fourth quarter valued at about $25,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of Flagstar Bank, National Association in the fourth quarter worth about $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association in the fourth quarter valued at about $34,000. Advisory Services Network LLC acquired a new stake in shares of Flagstar Bank, National Association in the third quarter valued at about $35,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at about $42,000. 67.88% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source