Flagstar Bank, National Association (NYSE:FLG) Price Target Raised to $16.00

Flagstar Bank, National Association (NYSE:FLG) had its target price boosted by Cantor Fitzgerald from $15.00 to $16.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently commented on FLG. DA Davidson reissued a “buy” rating and set a $14.50 target price on shares of Flagstar Bank, National Association in a research report on Thursday, November 13th. UBS Group decreased their price objective on Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Truist Financial boosted their target price on Flagstar Bank, National Association from $12.00 to $13.50 and gave the stock a “hold” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped their target price on Flagstar Bank, National Association from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Flagstar Bank, National Association currently has a consensus rating of “Hold” and a consensus price target of $14.32.

Flagstar Bank, National Association Price Performance

Shares of FLG stock opened at $13.36 on Friday. The stock’s 50-day moving average is $11.85 and its 200 day moving average is $11.81. Flagstar Bank, National Association has a 1-year low of $8.56 and a 1-year high of $13.85. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market cap of $5.55 billion, a P/E ratio of -13.77 and a beta of 1.11.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.07) EPS for the quarter. Flagstar Bank, National Association had a negative net margin of 7.06% and a negative return on equity of 3.80%. The firm had revenue of $498.00 million for the quarter. Research analysts predict that Flagstar Bank, National Association will post -0.31 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, December 17th. Shareholders of record on Sunday, December 7th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, December 5th. Flagstar Bank, National Association’s payout ratio is presently -4.12%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in Flagstar Bank, National Association by 9.4% in the second quarter. Geode Capital Management LLC now owns 7,462,877 shares of the company’s stock valued at $79,116,000 after buying an additional 641,117 shares during the last quarter. Alliancebernstein L.P. lifted its stake in 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 valued at $70,341,000 after acquiring an additional 6,096,512 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Flagstar Bank, National Association in the 1st quarter valued at $76,911,000. Azora Capital LP acquired a new stake in shares of Flagstar Bank, National Association in the first quarter worth $74,133,000. Finally, Victory Capital Management Inc. increased its stake in shares of Flagstar Bank, National Association by 4.0% in the third quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock worth $72,669,000 after acquiring an additional 240,119 shares during the period. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

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.