Flagstar Bank, National Association (NYSE:FLG) Upgraded by Truist Financial to Buy Rating

Flagstar Bank, National Association (NYSE:FLG) was upgraded by stock analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a $17.00 target price on the stock, up from their previous target price of $13.50. Truist Financial’s price objective would suggest a potential upside of 25.57% from the stock’s current price.

FLG has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of Flagstar Bank, National Association from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Piper Sandler began coverage on shares of Flagstar Bank, National Association in a research report on Monday, March 16th. They set an “overweight” rating and a $16.00 price target on the stock. Barclays lifted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Cantor Fitzgerald lifted 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 research note on Friday, December 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Flagstar Bank, National Association from $13.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.11.

Flagstar Bank, National Association Stock Up 0.4%

FLG stock opened at $13.54 on Tuesday. Flagstar Bank, National Association has a 52 week low of $9.64 and a 52 week high of $14.53. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -26.55 and a beta of 1.02. The firm’s 50-day moving average is $13.24 and its two-hundred day moving average is $12.51. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.59.

Flagstar Bank, National Association (NYSE:FLG) last released 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 net margin of 3.68% and a negative return on equity of 1.60%. The company had revenue of $548.00 million for the quarter, compared to the consensus estimate of $533.00 million. During the same period in the previous year, the firm earned ($0.41) EPS. Flagstar Bank, National Association’s revenue was down 10.9% on a year-over-year basis. On average, analysts forecast that Flagstar Bank, National Association will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds have recently made changes to their positions in FLG. Geode Capital Management LLC increased its position in shares of Flagstar Bank, National Association by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,487,034 shares of the company’s stock worth $94,277,000 after acquiring an additional 467,053 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Flagstar Bank, National Association by 1,130.1% in the second quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock worth $70,341,000 after acquiring an additional 6,096,512 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of 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 acquiring an additional 240,119 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Flagstar Bank, National Association by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,162,628 shares of the company’s stock worth $77,589,000 after acquiring an additional 316,612 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Flagstar Bank, National Association by 60.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,626,146 shares of the company’s stock worth $58,243,000 after acquiring an additional 1,750,889 shares in the last quarter. Institutional investors and hedge funds own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

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.