Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Cut by Royal Bank Of Canada

Flagstar Bank, National Association (NYSE:FLG) had its target price dropped by Royal Bank Of Canada from $13.00 to $12.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s target price indicates a potential upside of 16.80% from the company’s current price.

FLG has been the topic of a number of other reports. TD Cowen reduced their price target on shares of Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial cut their target price on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday. Raymond James Financial started coverage on Flagstar Bank, National Association in a research note on Wednesday, September 2nd. They set a “market perform” rating on the stock. Weiss Ratings upgraded Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 2nd. Finally, Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Flagstar Bank, National Association Trading Down 1.0%

Shares of NYSE FLG traded down $0.11 during mid-day trading on Monday, reaching $10.27. 2,963,356 shares of the company’s stock were exchanged, compared to its average volume of 5,085,292. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 68.50 and a beta of 1.05. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. Flagstar Bank, National Association has a 52-week low of $10.28 and a 52-week high of $15.44. The company’s 50-day moving average is $12.45 and its 200-day moving average is $13.66.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $530.00 million during the quarter, compared to analysts’ expectations of $545.12 million. Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. During the same quarter last year, the firm posted ($0.07) earnings per share. Analysts expect that Flagstar Bank, National Association will post 0.28 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its Board of Directors has authorized a stock repurchase program on Friday, July 24th that allows the company to buy back $250.00 million in shares. This buyback authorization allows the company to reacquire up to 4.1% of its stock through open market purchases. Share buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Reef Capital Management LP acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $36,744,000. Dimensional Fund Advisors LP lifted its position in Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after acquiring an additional 569,003 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Flagstar Bank, National Association in the second quarter valued at $8,480,000. Polar Asset Management Partners Inc. boosted its stake in Flagstar Bank, National Association by 36.8% in the first quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after acquiring an additional 437,939 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Flagstar Bank, National Association by 106.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock valued at $8,049,000 after purchasing an additional 315,691 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Key Headlines Impacting Flagstar Bank, National Association

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: TD Cowen lowered its price target to $13 from $16 but retained a Buy rating, implying approximately 26% upside from the referenced price. TD Cowen Flagstar analyst recommendation
• Positive Sentiment: Truist cut its target to $13 from $15 while maintaining a Buy rating, also indicating roughly 26% potential upside. Truist Flagstar analyst recommendation
• Positive Sentiment: Barclays reduced its target to $14 from $15 but kept an Overweight rating, representing approximately 36% upside. Barclays Flagstar analyst recommendation
• Neutral Sentiment: JPMorgan lowered its target to $11.50 from $14 and moved to a Neutral rating, suggesting only moderate upside. JPMorgan Flagstar analyst recommendation
• Neutral Sentiment: RBC cut its target to $12 from $13 and maintained a Sector Perform rating, reflecting a more cautious outlook. RBC Flagstar price target update
• Negative Sentiment: Recent quarterly results missed expectations, with earnings of $0.01 per share versus a $0.07 consensus and revenue of $530 million versus $545.1 million expected. Higher credit-loss provisions, a 2.7% sequential decline in book value and asset-quality deterioration weighed on results.
• Negative Sentiment: Management lowered net interest income guidance to $1.815 billion–$1.830 billion, citing persistent rate pressure and weaker asset quality. The stock subsequently reached a new 12-month low. Flagstar reaches 12-month low after earnings miss

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.