Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Cut by Royal Bank Of Canada

Flagstar Bank, National Association (NYSE:FLG) had its target price lowered by equities research analysts at Royal Bank Of Canada from $13.00 to $12.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s target price points to a potential upside of 16.80% from the company’s current price.

A number of other equities analysts have also issued reports on FLG. JPMorgan Chase & Co. lowered their price target on Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating on the stock in a report on Monday. Weiss Ratings upgraded Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Morgan Stanley lowered their price objective on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. Raymond James Financial started coverage on Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They set a “market perform” rating on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $17.00 target price on shares of Flagstar Bank, National Association in a research note on Monday, July 27th. Ten 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 presently has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock traded down $0.11 during trading on Monday, reaching $10.27. The company’s stock had a trading volume of 2,963,356 shares, compared to its average volume of 5,085,292. The company has a 50-day moving average price of $12.45 and a two-hundred day moving average price of $13.66. Flagstar Bank, National Association has a fifty-two week low of $10.28 and a fifty-two week high of $15.44. The firm has a market cap of $4.26 billion, a PE ratio of 68.50 and a beta of 1.05. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.53.

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

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

Institutional Investors Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. Engineers Gate Manager LP acquired a new position in shares of Flagstar Bank, National Association during the 2nd quarter valued at $8,480,000. California State Teachers Retirement System lifted its holdings in shares of Flagstar Bank, National Association by 26.2% in the first quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock valued at $4,905,000 after buying an additional 77,292 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Flagstar Bank, National Association by 106.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock worth $8,049,000 after acquiring an additional 315,691 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in Flagstar Bank, National Association by 36.8% in the first quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock worth $21,420,000 after acquiring an additional 437,939 shares in the last quarter. Finally, Cannell & Spears LLC acquired a new stake in Flagstar Bank, National Association in the 1st quarter valued at about $1,788,000. Institutional investors 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: TD Cowen lowered its price target to $13 from $16 but retained a Buy rating, implying approximately 26% upside from the referenced price. TD Cowen Flagstar analyst recommendation
• Positive Sentiment: Truist cut its target to $13 from $15 while maintaining a Buy rating, also indicating roughly 26% potential upside. Truist Flagstar analyst recommendation
• Positive Sentiment: Barclays reduced its target to $14 from $15 but kept an Overweight rating, representing approximately 36% upside. Barclays Flagstar analyst recommendation
• Neutral Sentiment: JPMorgan lowered its target to $11.50 from $14 and moved to a Neutral rating, suggesting only moderate upside. JPMorgan Flagstar analyst recommendation
• Neutral Sentiment: RBC cut its target to $12 from $13 and maintained a Sector Perform rating, reflecting a more cautious outlook. RBC Flagstar price target update
• Negative Sentiment: Recent quarterly results missed expectations, with earnings of $0.01 per share versus a $0.07 consensus and revenue of $530 million versus $545.1 million expected. Higher credit-loss provisions, a 2.7% sequential decline in book value and asset-quality deterioration weighed on results.
• Negative Sentiment: Management lowered net interest income guidance to $1.815 billion–$1.830 billion, citing persistent rate pressure and weaker asset quality. The stock subsequently reached a new 12-month low. Flagstar reaches 12-month low after earnings miss

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.