Keefe, Bruyette & Woods Raises Flagstar Bank, National Association (NYSE:FLG) Price Target to $14.00

Flagstar Bank, National Association (NYSE:FLG) had its price objective increased by equities researchers at Keefe, Bruyette & Woods from $13.50 to $14.00 in a report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 3.36% from the stock’s previous close.

Several other analysts have also issued reports on the stock. DA Davidson restated a “buy” rating and issued a $14.50 price target on shares of Flagstar Bank, National Association in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. UBS Group lowered their price target on Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Cantor Fitzgerald raised their price objective on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.35.

Flagstar Bank, National Association Stock Performance

NYSE:FLG traded up $0.33 during mid-day trading on Monday, hitting $13.55. 1,394,926 shares of the company’s stock traded hands, compared to its average volume of 5,066,936. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of -26.56, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10. The firm has a 50 day moving average of $12.79 and a two-hundred day moving average of $12.15. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Flagstar Bank, National Association has a 12 month low of $9.64 and a 12 month high of $13.85.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The company had revenue of $548.00 million during the quarter, compared to analyst estimates of $533.00 million. During the same period in the previous year, the company earned ($0.41) earnings per share. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities analysts forecast that Flagstar Bank, National Association will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flagstar Bank, National Association

Institutional investors and hedge funds have recently made changes to their positions in the company. Alliancebernstein L.P. increased its position in shares of Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after purchasing an additional 6,096,512 shares in the last quarter. Norges Bank bought a new position in shares of Flagstar Bank, National Association in the second quarter valued at approximately $31,502,000. JPMorgan Chase & Co. boosted its holdings in shares of Flagstar Bank, National Association by 310.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after acquiring an additional 2,894,424 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Flagstar Bank, National Association in the 2nd quarter worth approximately $23,059,000. Finally, Cerity Partners LLC bought a new stake in Flagstar Bank, National Association during the 2nd quarter worth approximately $19,957,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

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.