Flagstar Bank, National Association (NYSE:FLG) Stock Price Target Lowered at Barclays

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by analysts at Barclays from $15.00 to $14.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 35.59% from the stock’s previous close.

FLG has been the topic of several other research reports. Weiss Ratings raised Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Truist Financial cut their price objective on Flagstar Bank, National Association from $15.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley reduced their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. TD Cowen lowered their target price on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, UBS Group initiated coverage on shares of Flagstar Bank, National Association in a research report on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Flagstar Bank, National Association Stock Performance

NYSE:FLG traded down $0.06 during mid-day trading on Monday, hitting $10.32. 1,514,683 shares of the company’s stock traded hands, compared to its average volume of 5,075,715. The firm has a 50 day moving average of $12.45 and a two-hundred day moving average of $13.66. Flagstar Bank, National Association has a 12 month low of $10.30 and a 12 month high of $15.44. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 68.83 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. The business had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. During the same quarter last year, the firm posted ($0.07) earnings per share. On average, equities analysts forecast that Flagstar Bank, National Association will post 0.28 earnings per share for the current fiscal year.

Flagstar Bank, National Association declared that its Board of Directors has initiated a stock buyback program on Friday, July 24th that authorizes the company to buy back $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

A number of hedge funds have recently added to or reduced their stakes in FLG. Hourglass Capital LLC lifted its position in shares of Flagstar Bank, National Association by 2.1% during the third quarter. Hourglass Capital LLC now owns 240,100 shares of the company’s stock worth $2,802,000 after purchasing an additional 5,000 shares in the last quarter. Inspire Investing LLC lifted its holdings in Flagstar Bank, National Association by 18.9% during the 3rd quarter. Inspire Investing LLC now owns 54,308 shares of the company’s stock worth $634,000 after buying an additional 8,620 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Flagstar Bank, National Association by 57.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 46,401 shares of the company’s stock worth $541,000 after buying an additional 16,996 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Flagstar Bank, National Association by 26.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock valued at $248,000 after buying an additional 4,376 shares during the last quarter. Finally, Core Capital Management & Research inc. bought a new position in Flagstar Bank, National Association in the 2nd quarter valued at $50,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Company Profile

Flagstar Bank, National Association is a full-service regional bank and the principal banking subsidiary of Flagstar Financial, Inc, formerly known as New York Community Bancorp. The bank provides consumer and business banking services through deposits, checking and savings accounts, lending, cash management, and digital banking channels.

Flagstar’s lending activities include residential mortgages, mortgage servicing, commercial real estate loans, multifamily financing, commercial and industrial loans, and other consumer credit products.