Flagstar Bank, National Association (NYSE:FLG) Price Target Cut to $16.00 by Analysts at Cantor Fitzgerald

Flagstar Bank, National Association (NYSE:FLG) had its price target decreased by equities research analysts at Cantor Fitzgerald from $17.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 42.81% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Raymond James Financial initiated coverage on Flagstar Bank, National Association in a research note on Wednesday, September 2nd. They set a “market perform” rating on the stock. Wall Street Zen lowered Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, September 26th. Citigroup raised their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Barclays reduced their price target on Flagstar Bank, National Association from $17.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Finally, TD Cowen reduced their price target on Flagstar Bank, National Association from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.96.

Flagstar Bank, National Association Stock Performance

NYSE:FLG opened at $11.20 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 141.38 and a beta of 1.05. The firm’s fifty day simple moving average is $12.95 and its 200 day simple moving average is $13.79. Flagstar Bank, National Association has a twelve month low of $10.57 and a twelve month high of $15.44.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%. The business had revenue of $512.00 million for the quarter, compared to analysts’ expectations of $539.34 million. During the same period last year, the company posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association declared that its Board of Directors has approved a share repurchase program on Friday, July 24th that permits the company to buy back $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. North Reef Capital Management LP acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter worth approximately $36,744,000. SG Americas Securities LLC increased its holdings in shares of Flagstar Bank, National Association by 14,586.4% in the 1st quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock valued at $27,636,000 after acquiring an additional 2,084,101 shares during the last quarter. Interval Partners LP acquired a new stake in shares of Flagstar Bank, National Association during the 4th quarter valued at approximately $11,632,000. Dimensional Fund Advisors LP raised 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 valued at $88,645,000 after acquiring an additional 569,003 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Flagstar Bank, National Association during the 2nd quarter valued at approximately $8,480,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.