Flagstar Bank, National Association (NYSE:FLG) Reaches New 12-Month High After Analyst Upgrade

Flagstar Bank, National Association (NYSE:FLG)’s share price hit a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $16.00 to $16.50. Citigroup currently has a buy rating on the stock. Flagstar Bank, National Association traded as high as $13.88 and last traded at $13.7560, with a volume of 239792 shares trading hands. The stock had previously closed at $13.50.

A number of other research analysts also recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Monday. Cantor Fitzgerald increased their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Barclays lifted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods increased their target price on Flagstar Bank, National Association from $13.50 to $14.00 and gave the company a “market perform” rating in a research report on Monday. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Flagstar Bank, National Association presently has a consensus rating of “Hold” and an average target price of $14.46.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several institutional investors and hedge funds have recently bought and sold shares of FLG. CWM LLC purchased a new stake in shares of Flagstar Bank, National Association during the 2nd quarter valued at $28,000. Financial Freedom LLC acquired a new position in Flagstar Bank, National Association during the 2nd quarter valued at about $31,000. Ameritas Advisory Services LLC acquired a new position in Flagstar Bank, National Association during the 3rd quarter valued at about $33,000. Advisory Services Network LLC purchased a new stake in Flagstar Bank, National Association in the third quarter valued at about $35,000. Finally, Clayton Financial Group LLC acquired a new stake in Flagstar Bank, National Association in the fourth quarter worth about $42,000. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Stock Performance

The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -27.41, a P/E/G ratio of 0.67 and a beta of 1.10. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.00 and a quick ratio of 0.99. The firm has a fifty day simple moving average of $12.91 and a two-hundred day simple moving average of $12.19.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The firm had revenue of $548.00 million during the quarter, compared to analyst estimates of $533.00 million. Flagstar Bank, National Association had a negative net margin of 3.68% and a negative return on equity of 1.60%. Flagstar Bank, National Association’s revenue was down 10.9% on a year-over-year basis. During the same period last year, the firm posted ($0.41) EPS. On average, analysts expect that Flagstar Bank, National Association will post -0.31 EPS for the current year.

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.