Flagstar Bank, National Association (NYSE:FLG) Receives $15.83 Average Price Target from Analysts

Flagstar Bank, National Association (NYSE:FLG) has earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.9167.

A number of brokerages have recently issued reports on FLG. Barclays increased their target price on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Keefe, Bruyette & Woods upgraded Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and upped their price target for the company from $14.00 to $16.00 in a research report on Friday, March 13th. Royal Bank Of Canada increased their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, April 27th. Truist Financial raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Tuesday, April 21st.

Flagstar Bank, National Association Stock Down 2.8%

Flagstar Bank, National Association stock opened at $14.59 on Friday. The company has a market capitalization of $6.08 billion, a P/E ratio of -66.30 and a beta of 1.01. The firm’s fifty day simple moving average is $14.25 and its 200-day simple moving average is $13.59. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.36.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The company had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that Flagstar Bank, National Association will post 0.45 earnings per share for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

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

Institutional Trading of Flagstar Bank, National Association

Several hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. raised its position in Flagstar Bank, National Association by 1,130.1% in the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after purchasing an additional 6,096,512 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Flagstar Bank, National Association during the fourth quarter worth $53,216,000. Norges Bank bought a new stake in shares of Flagstar Bank, National Association during the fourth quarter worth $44,046,000. JPMorgan Chase & Co. increased its stake in shares of Flagstar Bank, National Association by 310.8% in the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock valued at $44,187,000 after buying an additional 2,894,424 shares in the last quarter. Finally, North Reef Capital Management LP acquired a new stake in shares of Flagstar Bank, National Association in the first quarter valued at $36,744,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.