Flagstar Bank, National Association (NYSE:FLG) Sets New 52-Week High Following Analyst Upgrade

Flagstar Bank, National Association (NYSE:FLG)’s share price hit a new 52-week high during trading on Thursday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $15.44 and last traded at $15.3810, with a volume of 834072 shares changing hands. The stock had previously closed at $15.01.

FLG has been the topic of a number of other reports. Barclays lifted their price target on Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Cantor Fitzgerald increased their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler raised their price objective on Flagstar Bank, National Association from $16.50 to $17.50 and gave the company an “overweight” rating in a report on Friday, June 26th. JPMorgan Chase & Co. lifted 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 research note on Wednesday, July 1st. Finally, Citigroup upped their target price on shares of Flagstar Bank, National Association from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.96.

Institutional Investors Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently made changes to their positions in FLG. DV Equities LLC acquired a new position in Flagstar Bank, National Association during the fourth quarter worth $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth $34,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth $34,000. Advisory Services Network LLC acquired a new stake in shares of Flagstar Bank, National Association in the 3rd quarter worth $35,000. Finally, Clayton Financial Group LLC purchased a new position in shares of Flagstar Bank, National Association during the 4th quarter worth $42,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Stock Performance

The firm has a fifty day moving average price of $14.42 and a 200 day moving average price of $13.73. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. The firm has a market cap of $6.21 billion, a PE ratio of -67.69 and a beta of 1.01.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. The firm had revenue of $507.00 million during the quarter, compared to analyst estimates of $556.74 million. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. Flagstar Bank, National Association’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Flagstar Bank, National Association Announces Dividend

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

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.