Flagstar Bank, National Association (NYSE:FLG) Now Covered by Piper Sandler

Stock analysts at Piper Sandler initiated coverage on shares of Flagstar Bank, National Association (NYSE:FLG) in a research report issued on Monday. The brokerage set an “overweight” rating and a $16.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 26.25% from the stock’s current price.

A number of other equities research analysts have also commented on FLG. Keefe, Bruyette & Woods raised Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and increased their price target for the company from $14.00 to $16.00 in a research report on Friday. Royal Bank Of Canada lifted their price objective on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a report on Thursday, January 22nd. Morgan Stanley raised their price target on shares of Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Finally, Barclays boosted their price target on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.86.

Flagstar Bank, National Association Stock Up 3.9%

NYSE FLG traded up $0.47 during trading hours on Monday, hitting $12.67. The company’s stock had a trading volume of 495,397 shares, compared to its average volume of 5,332,485. The company has a market capitalization of $5.27 billion, a PE ratio of -24.83 and a beta of 1.08. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.59. Flagstar Bank, National Association has a 52 week low of $9.64 and a 52 week high of $14.53. The company’s 50-day simple moving average is $13.21 and its two-hundred day simple moving average is $12.48.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The firm had revenue of $548.00 million during the quarter, compared to the consensus estimate of $533.00 million. During the same period in the prior year, the business posted ($0.41) earnings per share. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. Research analysts anticipate that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Institutional Trading of Flagstar Bank, National Association

Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in shares of Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after buying an additional 6,096,512 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Flagstar Bank, National Association during the 4th quarter worth $53,216,000. Norges Bank purchased a new stake in Flagstar Bank, National Association in the 4th quarter worth about $44,046,000. JPMorgan Chase & Co. increased its holdings in Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after acquiring an additional 2,894,424 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in Flagstar Bank, National Association in the 2nd quarter valued at about $19,957,000. 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.