Flagstar Bank, National Association (NYSE:FLG) Price Target Raised to $16.00 at DA Davidson

Flagstar Bank, National Association (NYSE:FLG) had its price objective upped by analysts at DA Davidson from $15.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 18.12% from the stock’s previous close.

Several other brokerages also recently commented on FLG. Weiss Ratings restated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Royal Bank Of Canada increased their target price on Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday. Cantor Fitzgerald upped their price objective on shares of Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Flagstar Bank, National Association from $13.50 to $14.00 and gave the company a “market perform” rating in a report on Monday. Finally, UBS Group lowered their target price on shares of Flagstar Bank, National Association from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Flagstar Bank, National Association presently has a consensus rating of “Hold” and an average target price of $14.46.

Flagstar Bank, National Association Trading Up 2.5%

Flagstar Bank, National Association stock traded up $0.33 during mid-day trading on Monday, hitting $13.55. 3,297,350 shares of the stock were exchanged, compared to its average volume of 5,149,396. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -26.58, a PEG ratio of 0.57 and a beta of 1.10. Flagstar Bank, National Association has a 12 month low of $9.64 and a 12 month high of $13.85. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 1.59. The firm’s fifty day simple moving average is $12.79 and its two-hundred day simple moving average is $12.15.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, January 30th. The company reported $0.06 earnings per share 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 business had revenue of $548.00 million during the quarter, compared to the consensus estimate of $533.00 million. During the same period in the previous year, the company posted ($0.41) earnings per share. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. Analysts forecast that Flagstar Bank, National Association will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Flagstar Bank, National Association by 9.4% during the second quarter. Geode Capital Management LLC now owns 7,462,877 shares of the company’s stock valued at $79,116,000 after purchasing an additional 641,117 shares in the last quarter. Alliancebernstein L.P. raised its holdings 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 valued at $70,341,000 after buying an additional 6,096,512 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Flagstar Bank, National Association by 4.0% in the third quarter. Victory Capital Management Inc. now owns 6,291,647 shares of the company’s stock worth $72,669,000 after buying an additional 240,119 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Flagstar Bank, National Association by 12.8% during the third quarter. Dimensional Fund Advisors LP now owns 5,846,016 shares of the company’s stock valued at $67,520,000 after acquiring an additional 661,749 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Flagstar Bank, National Association by 310.8% during the third 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. 67.88% of the stock is 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.