TD Cowen Issues Pessimistic Forecast for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by equities researchers at TD Cowen from $17.00 to $16.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 38.23% from the company’s current price.

A number of other equities analysts have also commented on FLG. Cantor Fitzgerald lifted their price target 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, July 15th. Citigroup upped 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 report on Thursday, June 25th. DA Davidson reiterated a “buy” rating and set a $17.00 price target on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Royal Bank Of Canada reduced their target price on Flagstar Bank, National Association from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Monday, July 27th. Finally, UBS Group initiated coverage on Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Flagstar Bank, National Association currently has an average rating of “Moderate Buy” and an average price target of $16.38.

Flagstar Bank, National Association Trading Up 0.0%

Shares of FLG stock opened at $11.57 on Monday. Flagstar Bank, National Association has a 12-month low of $10.57 and a 12-month high of $15.44. The company has a market capitalization of $4.80 billion, a PE ratio of 385.83 and a beta of 1.05. The firm has a 50 day moving average price of $13.24 and a two-hundred day moving average price of $13.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.43.

Flagstar Bank, National Association (NYSE:FLG) last posted its quarterly earnings data on Friday, July 24th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $512.00 million for the quarter, compared to the consensus estimate of $539.34 million. Flagstar Bank, National Association had a return on equity of 0.98% and a net margin of 1.08%.Flagstar Bank, National Association’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) EPS. As a group, analysts predict that Flagstar Bank, National Association will post 0.3 earnings per share for the current year.

Flagstar Bank, National Association announced that its Board of Directors has authorized a share buyback program on Friday, July 24th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Flagstar Bank, National Association by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after acquiring an additional 569,003 shares during the last quarter. Norges Bank purchased a new position in Flagstar Bank, National Association during the fourth quarter valued at $44,046,000. Private Management Group Inc. grew its stake in shares of Flagstar Bank, National Association by 1.1% during the 4th quarter. Private Management Group Inc. now owns 3,111,069 shares of the company’s stock valued at $39,168,000 after acquiring an additional 34,167 shares during the period. North Reef Capital Management LP bought a new position in shares of Flagstar Bank, National Association in the first quarter worth approximately $36,744,000. Finally, SG Americas Securities LLC increased its stake in Flagstar Bank, National Association by 14,586.4% in the 1st quarter. SG Americas Securities LLC now owns 2,098,389 shares of the company’s stock worth $27,636,000 after buying an additional 2,084,101 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

About Flagstar Bank, National Association

Flagstar Bank, National Association is the principal banking subsidiary of Flagstar Financial, Inc (NYSE: FLG). The bank provides a range of financial services to consumers, businesses and institutional clients, including deposit accounts, residential and commercial lending, consumer loans, credit products and treasury management services.

Flagstar also has a significant mortgage banking business, offering home purchase and refinancing loans through retail, broker and correspondent channels.