Flagstar Bank, National Association (NYSE:FLG) Upgraded to “Buy” at TD Cowen

TD Cowen upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a buy rating in a research report released on Monday morning, MarketBeat Ratings reports. TD Cowen currently has $18.00 target price on the stock, up from their previous target price of $15.00.

Several other equities research analysts have also recently weighed in on FLG. Morgan Stanley boosted their price target on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Citigroup lifted their price objective on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. boosted their target price on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price target for the company from $13.50 to $17.00 in a report on Tuesday, April 7th. Finally, DA Davidson lifted their price target on 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. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Flagstar Bank, National Association has an average rating of “Moderate Buy” and a consensus price target of $16.79.

Flagstar Bank, National Association Stock Up 0.4%

FLG opened at $14.90 on Monday. The company has a market capitalization of $6.21 billion, a PE ratio of -67.85 and a beta of 1.01. The firm has a 50-day simple moving average of $14.27 and a two-hundred day simple moving average of $13.62. 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 52 week low of $10.57 and a 52 week high of $15.36.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, April 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $507.00 million for the quarter, compared to the consensus estimate of $556.74 million. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.26) earnings per share. Analysts forecast that Flagstar Bank, National Association will post 0.44 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Sunday, June 7th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Flagstar Bank, National Association’s dividend payout ratio is presently -18.18%.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Flagstar Bank, National Association by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after buying an additional 467,053 shares during the period. Dimensional Fund Advisors LP grew its stake in Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after purchasing an additional 569,003 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Flagstar Bank, National Association by 1,130.1% in the second 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 in the last quarter. Goldman Sachs Group Inc. boosted 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 buying an additional 1,750,889 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth $53,216,000. 67.88% of the stock is owned by hedge funds and other 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.