Flagstar Bank, National Association (NYSE:FLG) Rating Increased to Hold at Wall Street Zen

Flagstar Bank, National Association (NYSE:FLG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

FLG has been the subject of a number of other research reports. TD Cowen raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $18.00 in a research report on Monday, July 6th. DA Davidson lifted their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, April 27th. Cantor Fitzgerald increased their price objective on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler raised their target price on shares of Flagstar Bank, National Association from $16.50 to $17.50 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Citigroup boosted their target price on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Flagstar Bank, National Association has an average rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Stock Down 3.1%

Shares of NYSE FLG opened at $14.89 on Friday. Flagstar Bank, National Association has a 1 year low of $10.57 and a 1 year high of $15.44. The firm’s 50 day moving average price is $14.42 and its 200 day moving average price is $13.73. The firm has a market cap of $6.21 billion, a P/E ratio of -67.69 and a beta of 1.01. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.90 and a current ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last issued 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. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The company had revenue of $507.00 million during the quarter, compared to the consensus estimate of $556.74 million. During the same period in the previous year, the firm posted ($0.26) EPS. Flagstar Bank, National Association’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Flagstar Bank, National Association will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of FLG. Mirador Capital Partners LP grew its position in Flagstar Bank, National Association by 1.8% in the second quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock valued at $1,340,000 after acquiring an additional 1,571 shares in the last quarter. Glenmede Trust Co. NA purchased a new stake in shares of Flagstar Bank, National Association during the first quarter valued at approximately $172,000. Amundi lifted its position in shares of Flagstar Bank, National Association by 93.9% during the first quarter. Amundi now owns 19,716 shares of the company’s stock worth $260,000 after purchasing an additional 9,550 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Flagstar Bank, National Association by 26.2% during the first quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock worth $4,905,000 after purchasing an additional 77,292 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Flagstar Bank, National Association by 4.0% in the first quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock valued at $386,000 after purchasing an additional 1,117 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.