Flagstar Bank, National Association (NYSE:FLG) Upgraded at Truist Financial

Truist Financial upgraded shares of Flagstar Bank, National Association (NYSE:FLG) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have $17.00 target price on the stock, up from their prior target price of $13.50.

Other equities research analysts have also recently issued reports about the company. Citigroup boosted their price objective on Flagstar Bank, National Association from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research note on Thursday, January 22nd. Barclays boosted their price objective on 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. Piper Sandler assumed coverage on Flagstar Bank, National Association in a research note on Monday, March 16th. They set an “overweight” rating and a $16.00 price objective on the stock. Finally, Wall Street Zen raised Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.18.

Flagstar Bank, National Association Trading Up 1.3%

Shares of FLG stock opened at $14.13 on Tuesday. Flagstar Bank, National Association has a 12-month low of $9.64 and a 12-month high of $14.53. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.59. The stock’s 50-day moving average price is $13.29 and its 200-day moving average price is $12.54. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of -27.70 and a beta of 1.02.

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

Flagstar Bank, National Association Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Saturday, March 7th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, March 6th. Flagstar Bank, National Association’s payout ratio is presently -7.84%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLG. Alliancebernstein L.P. grew its stake in shares of 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 valued at $70,341,000 after buying an additional 6,096,512 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Flagstar Bank, National Association during the fourth quarter valued at approximately $53,216,000. Norges Bank bought a new position in shares of Flagstar Bank, National Association during the fourth quarter valued at approximately $44,046,000. JPMorgan Chase & Co. grew 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 valued at $44,187,000 after buying an additional 2,894,424 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Flagstar Bank, National Association during the second quarter valued at approximately $19,957,000. Institutional investors 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.