Flagstar Bank, National Association (NYSE:FLG) Sets New 52-Week High – Here’s Why

Flagstar Bank, National Association (NYSE:FLG) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $14.98 and last traded at $14.9150, with a volume of 1436325 shares traded. The stock had previously closed at $14.54.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLG. Royal Bank Of Canada raised 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 upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.50 to $17.00 in a research note on Tuesday, April 7th. Citigroup raised their target price on Flagstar Bank, National Association from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Morgan Stanley raised their target price on Flagstar Bank, National Association from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Finally, DA Davidson raised their target price on 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. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.67.

Flagstar Bank, National Association Trading Up 2.8%

The business’s 50 day moving average is $14.01 and its two-hundred day moving average is $13.35. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $6.23 billion, a P/E ratio of -67.93 and a beta of 1.02.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data 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. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The business had revenue of $507.00 million for the quarter, compared to analysts’ expectations of $556.74 million. During the same period in the previous year, the business earned ($0.26) earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Analysts expect that Flagstar Bank, National Association will post 0.46 EPS for the current year.

Flagstar Bank, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Sunday, June 7th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, June 5th. Flagstar Bank, National Association’s payout ratio is currently -18.18%.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently modified their holdings of FLG. DV Equities LLC bought a new stake in shares of Flagstar Bank, National Association during the fourth quarter valued at about $25,000. Ameritas Advisory Services LLC purchased a new position in Flagstar Bank, National Association in the 3rd quarter worth about $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Flagstar Bank, National Association in the 4th quarter worth about $34,000. Litman Gregory Wealth Management LLC purchased a new position in Flagstar Bank, National Association in the 4th quarter worth about $34,000. Finally, Advisory Services Network LLC purchased a new position in Flagstar Bank, National Association in the 3rd quarter worth about $35,000. 67.88% of the stock is currently owned by institutional investors.

Flagstar Bank, National Association Company Profile

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.