Flagstar Bank, National Association (NYSE:FLG) Price Target Raised to $16.50

Flagstar Bank, National Association (NYSE:FLG) had its target price raised by Citigroup from $16.00 to $16.50 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on FLG. Royal Bank Of Canada increased 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 report on Monday. Cantor Fitzgerald raised their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Barclays lifted their price objective on shares of Flagstar Bank, National Association from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. DA Davidson increased their price target on Flagstar Bank, National Association from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lifted their target price on Flagstar Bank, National Association from $13.50 to $14.00 and gave the stock a “market perform” rating in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.46.

Flagstar Bank, National Association Stock Down 0.9%

Flagstar Bank, National Association stock opened at $13.89 on Tuesday. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of -27.23, a price-to-earnings-growth ratio of 0.68 and a beta of 1.10. Flagstar Bank, National Association has a fifty-two week low of $9.64 and a fifty-two week high of $14.43. The stock’s fifty day moving average is $12.94 and its two-hundred day moving average is $12.20. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.00.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $548.00 million for the quarter, compared to the consensus estimate of $533.00 million. Flagstar Bank, National Association had a negative return on equity of 1.60% and a negative net margin of 3.68%.The business’s revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.41) earnings per share. Analysts predict that Flagstar Bank, National Association will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Flagstar Bank, National Association

Hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its stake in Flagstar Bank, National Association by 1,130.1% during the second 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 during the last quarter. Norges Bank acquired a new stake in shares of Flagstar Bank, National Association during the 2nd quarter worth approximately $31,502,000. JPMorgan Chase & Co. grew its holdings in Flagstar Bank, National Association by 310.8% in the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after purchasing an additional 2,894,424 shares during the period. Bank of New York Mellon Corp bought a new stake in Flagstar Bank, National Association in the 2nd quarter valued at about $23,059,000. Finally, Cerity Partners LLC bought a new stake in shares of Flagstar Bank, National Association during the second quarter valued at approximately $19,957,000. 67.88% of the stock is owned by institutional investors.

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.