Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Lowered at JPMorgan Chase & Co.

Flagstar Bank, National Association (NYSE:FLG) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $14.00 to $11.50 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.70% from the stock’s previous close.

A number of other analysts also recently issued reports on FLG. Truist Financial dropped their price objective on shares of Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday. UBS Group assumed coverage on Flagstar Bank, National Association in a report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on Flagstar Bank, National Association from $15.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. Raymond James Financial initiated coverage on Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They issued a “market perform” rating for the company. Finally, Barclays cut their target price on Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Flagstar Bank, National Association has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Flagstar Bank, National Association Stock Performance

Flagstar Bank, National Association stock traded down $0.09 during midday trading on Monday, reaching $10.29. The stock had a trading volume of 2,824,381 shares, compared to its average volume of 5,081,339. The firm’s 50-day moving average price is $12.45 and its 200 day moving average price is $13.66. The firm has a market capitalization of $4.27 billion, a PE ratio of 68.63 and a beta of 1.05. Flagstar Bank, National Association has a 12 month low of $10.28 and a 12 month high of $15.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.53.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. The business had revenue of $530.00 million for the quarter, compared to the consensus estimate of $545.12 million. During the same period in the previous year, the firm earned ($0.07) EPS. As a group, research analysts predict that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

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

Institutional Trading of Flagstar Bank, National Association

Hedge funds have recently added to or reduced their stakes in the business. Hourglass Capital LLC boosted its holdings in Flagstar Bank, National Association by 2.1% during the 3rd quarter. Hourglass Capital LLC now owns 240,100 shares of the company’s stock valued at $2,802,000 after acquiring an additional 5,000 shares during the period. Inspire Investing LLC grew its position in Flagstar Bank, National Association by 18.9% during the 3rd quarter. Inspire Investing LLC now owns 54,308 shares of the company’s stock worth $634,000 after acquiring an additional 8,620 shares during the last quarter. State of Alaska Department of Revenue grew its position in Flagstar Bank, National Association by 57.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 46,401 shares of the company’s stock worth $541,000 after acquiring an additional 16,996 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Flagstar Bank, National Association by 26.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock worth $248,000 after purchasing an additional 4,376 shares during the period. Finally, Core Capital Management & Research inc. bought a new stake in Flagstar Bank, National Association in the second quarter valued at approximately $50,000. 67.88% of the stock is owned by institutional investors.

About Flagstar Bank, National Association

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.