Flagstar Bank, National Association (NYSE:FLG) Price Target Raised to $15.00 at Morgan Stanley

Flagstar Bank, National Association (NYSE:FLG) had its price target boosted by investment analysts at Morgan Stanley from $14.00 to $15.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 0.24% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Barclays raised their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Piper Sandler increased their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday. DA Davidson raised their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods raised shares of Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $14.00 to $16.00 in a report on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.75.

Flagstar Bank, National Association Stock Performance

FLG traded down $0.32 on Monday, reaching $14.96. The company had a trading volume of 5,518,421 shares, compared to its average volume of 5,136,047. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. Flagstar Bank, National Association has a 1 year low of $10.55 and a 1 year high of $15.36. The stock has a market capitalization of $6.24 billion, a PE ratio of -68.02 and a beta of 1.02. The stock has a 50-day moving average price of $14.23 and a 200-day moving average price of $13.54.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The company had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. During the same quarter last year, the company posted ($0.26) earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Flagstar Bank, National Association will post 0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Flagstar Bank, National Association

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Flagstar Bank, National Association by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after purchasing an additional 467,053 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Flagstar Bank, National Association by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after purchasing an additional 569,003 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after purchasing an additional 6,096,512 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Flagstar Bank, National Association by 4.0% in the 3rd quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock valued at $72,669,000 after purchasing an additional 240,119 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Flagstar Bank, National Association by 60.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock valued at $58,243,000 after purchasing an additional 1,750,889 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.