Flagstar Bank, National Association (NYSE:FLG) Rating Increased to Overweight at Morgan Stanley

Flagstar Bank, National Association (NYSE:FLG) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat reports. The firm presently has a $17.00 price objective on the stock. Morgan Stanley’s target price points to a potential upside of 25.46% from the company’s previous close.

Several other research firms have also commented on FLG. Piper Sandler boosted their price target on 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. Royal Bank Of Canada dropped their price objective on shares of Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Monday, July 27th. Barclays boosted their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Raymond James Financial started coverage on shares of Flagstar Bank, National Association in a report on Wednesday, September 2nd. They set a “market perform” rating for the company. Finally, Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Sunday. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Flagstar Bank, National Association Trading Up 0.2%

NYSE:FLG opened at $13.55 on Tuesday. The business’s 50-day moving average is $14.19 and its two-hundred day moving average is $13.91. The firm has a market capitalization of $5.62 billion, a PE ratio of 451.67 and a beta of 0.99. Flagstar Bank, National Association has a 12 month low of $10.57 and a 12 month high of $15.44. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.90 and a quick ratio of 0.90.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, July 24th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.The company had revenue of $512.00 million during the quarter, compared to analysts’ expectations of $539.34 million. During the same period in the previous year, the company earned ($0.14) EPS. Flagstar Bank, National Association’s quarterly revenue was up 4.0% on a year-over-year basis. Research analysts predict that Flagstar Bank, National Association will post 0.33 earnings per share for the current fiscal year.

Flagstar Bank, National Association announced that its board has authorized a stock buyback program on Friday, July 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of institutional investors have recently made changes to their positions in the company. DV Equities LLC bought a new stake in Flagstar Bank, National Association during the fourth quarter valued at $25,000. Litman Gregory Wealth Management LLC bought a new position in shares of Flagstar Bank, National Association during the fourth quarter worth about $34,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth about $34,000. Advisory Services Network LLC bought a new stake in Flagstar Bank, National Association in the 3rd quarter valued at about $35,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Flagstar Bank, National Association in the 4th quarter valued at about $42,000. 67.88% of the stock is currently owned by institutional investors.

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.