Flagstar Bank, National Association Sees Unusually High Options Volume (NYSE:FLG)

Key Points

• Unusual options activity hit Flagstar Bank, with investors buying 9,000 call options on Thursday, about 54% above its typical daily volume.
• The stock rose 2.2% to $15.35, near its 12-month high of $15.44, while trading volume was well below average.
• Analysts are generally constructive: several firms raised price targets, and the stock now carries a Moderate Buy consensus with an average target price of $16.96.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) was the recipient of some unusual options trading on Thursday. Investors bought 9,000 call options on the company. This represents an increase of approximately 54% compared to the typical daily volume of 5,834 call options.

Institutional Trading of Flagstar Bank, National Association

A number of institutional investors have recently modified their holdings of the company. DV Equities LLC purchased a new position in Flagstar Bank, National Association in the fourth quarter valued at about $25,000. 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. Litman Gregory Wealth Management LLC acquired a new stake in shares of Flagstar Bank, National Association in the fourth quarter valued at about $34,000. Advisory Services Network LLC purchased a new stake in shares of Flagstar Bank, National Association during the 3rd quarter valued at about $35,000. Finally, Clayton Financial Group LLC acquired a new position in Flagstar Bank, National Association during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 67.88% of the company's stock.

Flagstar Bank, National Association Trading Up 2.2%

Flagstar Bank, National Association stock traded up $0.34 during trading on Thursday, reaching $15.35. The company had a trading volume of 1,078,420 shares, compared to its average volume of 5,018,412. 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 1.47, a quick ratio of 0.90 and a current ratio of 0.90. The stock's 50 day moving average price is $14.39 and its two-hundred day moving average price is $13.70. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of -69.84 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company 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 1.22% and a negative return on equity of 0.11%. Flagstar Bank, National Association's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.26) EPS. As a group, equities analysts expect that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Sunday, June 7th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, June 5th. Flagstar Bank, National Association's dividend payout ratio (DPR) is -18.18%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. TD Cowen raised shares of Flagstar Bank, National Association from a "hold" rating to a "buy" rating and boosted their target price for the company from $15.00 to $18.00 in a research note on Monday, July 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st. Citigroup lifted 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 report on Thursday, June 25th. Finally, DA Davidson upped their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Nine 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.96.

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.

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