Cantor Fitzgerald Issues Positive Forecast for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its price target increased by Cantor Fitzgerald from $16.00 to $17.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently commented on FLG. Citigroup boosted their price objective on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. TD Cowen upgraded shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Monday, July 6th. Truist Financial raised shares of Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their target price for the company from $13.50 to $17.00 in a research note on Tuesday, April 7th. Piper Sandler boosted their price target on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.96.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $15.02 on Wednesday. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.36. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.47. The stock has a market cap of $6.26 billion, a PE ratio of -68.26 and a beta of 1.01. The business has a fifty day simple moving average of $14.39 and a 200-day simple moving average of $13.70.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $507.00 million for the quarter, compared to analyst estimates 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%.Flagstar Bank, National Association’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.26) earnings per share. On average, sell-side analysts anticipate that Flagstar Bank, National Association will post 0.43 EPS 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. Shareholders of record on Sunday, June 7th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Flagstar Bank, National Association’s payout ratio is currently -18.18%.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DV Equities LLC acquired a new position in shares of Flagstar Bank, National Association in the 4th quarter worth approximately $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Flagstar Bank, National Association in the fourth quarter worth $34,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Flagstar Bank, National Association during the fourth quarter worth $34,000. Advisory Services Network LLC bought a new stake in shares of Flagstar Bank, National Association during the third quarter worth $35,000. Finally, Clayton Financial Group LLC acquired a new stake in shares of Flagstar Bank, National Association in the fourth quarter valued at $42,000. 67.88% of the stock is owned by 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.