Flagstar Bank, National Association (NYSE:FLG) Given New $17.00 Price Target at Citigroup

Flagstar Bank, National Association (NYSE:FLG) had its target price lifted by research analysts at Citigroup from $16.50 to $17.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 21.13% from the stock’s previous close.

Several other equities research analysts have also weighed in on FLG. Keefe, Bruyette & Woods upgraded Flagstar Bank, National Association from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $14.00 to $16.00 in a research note on Friday, March 13th. Wall Street Zen lowered Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Piper Sandler upped their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the company an “overweight” rating in a research note on Monday. DA Davidson upped their price objective on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Flagstar Bank, National Association from $14.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.39.

Flagstar Bank, National Association Stock Performance

FLG traded up $0.04 on Tuesday, hitting $14.04. 2,643,004 shares of the stock traded hands, compared to its average volume of 5,326,616. Flagstar Bank, National Association has a 52 week low of $10.38 and a 52 week high of $14.92. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $5.84 billion, a PE ratio of -63.82 and a beta of 1.02. The business has a fifty day moving average price of $13.36 and a two-hundred day moving average price of $12.76.

Flagstar Bank, National Association (NYSE:FLG) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $556.74 million. During the same period in the prior year, the company posted ($0.26) EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts predict that Flagstar Bank, National Association will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLG. AQR Capital Management LLC acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $1,754,000. Goldman Sachs Group Inc. acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $21,022,000. United Services Automobile Association acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $219,000. Finally, Empowered Funds LLC acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $516,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

Key Flagstar Bank, National Association News

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Pocket of analyst bullishness — DA Davidson raised its price target to $17 and maintained a “buy” rating, implying roughly 22% upside from the referenced price. DA Davidson raise via Benzinga
• Positive Sentiment: Piper Sandler raised its target to $16.50 and put FLG at “overweight,” signaling additional sell?side confidence. Piper Sandler target raise
• Positive Sentiment: RBC lifted its target to $16 (sector perform), another upward revision that supports consensus improvement in analyst views. RBC target raise via Benzinga
• Positive Sentiment: Fundamentals improving — Seeking Alpha highlights two consecutive profitable quarters, a Fitch upgrade to BB, rising deposits and reduced CRE exposure, which together point to improving credit quality and a de?risking strategy. Seeking Alpha: Profitability and credit upgrade
• Neutral Sentiment: Board declared a small quarterly common dividend of $0.01 per share (payable June 17; record June 7). The yield is minimal (~0.3%) and largely symbolic, but signals management’s willingness to return capital. PR Newswire: Dividend announcement
• Neutral Sentiment: Management will present at Barclays’ 18th Annual Americas Select Conference—an investor?relations event that can increase visibility but is not expected to change fundamentals immediately. PR Newswire: Conference participation
• Negative Sentiment: Mixed Q1 reaction — Flagstar beat EPS expectations thanks to net interest income growth, no credit provisions and lower expenses, but non?interest (fee) income fell year?over?year; the market reacted negatively to the revenue mix shift and fee decline. Zacks: Q1 earnings and fee income decline

About Flagstar Bank, National Association

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.