Flagstar Bank, National Association (NYSE:FLG) Price Target Raised to $17.00

Flagstar Bank, National Association (NYSE:FLG) had its price target upped by Cantor Fitzgerald from $16.00 to $17.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the company. Truist Financial upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.50 to $17.00 in a research report on Tuesday, April 7th. DA Davidson boosted their price target on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Morgan Stanley lifted their target price on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, TD Cowen raised Flagstar Bank, National Association from a “hold” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a research note on Monday, July 6th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.96.

Flagstar Bank, National Association Trading Down 3.1%

FLG opened at $14.89 on Wednesday. Flagstar Bank, National Association has a 1-year low of $10.57 and a 1-year high of $15.44. The stock has a market capitalization of $6.21 billion, a PE ratio of -67.69 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average price of $14.42 and a two-hundred day moving average price of $13.73.

Flagstar Bank, National Association (NYSE:FLG) last announced its earnings results on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $507.00 million for the quarter, compared to analyst estimates of $556.74 million. Flagstar Bank, National Association had a negative net margin of 1.22% and a negative return on equity of 0.11%. Flagstar Bank, National Association’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.26) earnings per share. As a group, equities analysts anticipate that Flagstar Bank, National Association will post 0.43 earnings per share for the current fiscal year.

Flagstar Bank, National Association Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Sunday, June 7th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Flagstar Bank, National Association’s payout ratio is currently -18.18%.

Institutional Investors Weigh In On Flagstar Bank, National Association

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Flagstar Bank, National Association in the 1st quarter valued at $2,039,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Flagstar Bank, National Association during the first quarter worth about $1,754,000. Goldman Sachs Group Inc. bought a new position in Flagstar Bank, National Association during the first quarter worth about $21,022,000. United Services Automobile Association acquired a new position in Flagstar Bank, National Association in the first quarter valued at about $219,000. Finally, Empowered Funds LLC acquired a new position in Flagstar Bank, National Association in the first quarter valued at about $516,000. 67.88% of the stock is currently owned by institutional investors and hedge funds.

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.