Citigroup Has Lowered Expectations for Flagstar Bank, National Association (NYSE:FLG) Stock Price

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by analysts at Citigroup from $18.00 to $14.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price target points to a potential upside of 38.27% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Raymond James Financial initiated coverage on shares of Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They set a “market perform” rating for the company. Morgan Stanley dropped their price objective on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. JPMorgan Chase & Co. dropped their price objective on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating on the stock in a report on Monday. UBS Group started coverage on shares of Flagstar Bank, National Association in a research note on Tuesday, July 7th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Wall Street Zen cut shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Flagstar Bank, National Association Stock Performance

Shares of FLG stock traded down $0.10 during mid-day trading on Tuesday, reaching $10.12. The stock had a trading volume of 9,262,773 shares, compared to its average volume of 5,136,795. Flagstar Bank, National Association has a 1-year low of $10.06 and a 1-year high of $15.44. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 67.50 and a beta of 1.05. 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 business’s fifty day moving average is $12.46 and its 200-day moving average is $13.49.

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

Flagstar Bank, National Association announced that its Board of Directors has approved a share repurchase program on Friday, July 24th that authorizes the company to buy back $250 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Flagstar Bank, National Association

Hedge funds and other institutional investors have recently bought and sold shares of the stock. North Reef Capital Management LP purchased a new position in Flagstar Bank, National Association during the first quarter valued at approximately $36,744,000. Dimensional Fund Advisors LP boosted its position in Flagstar Bank, National Association by 9.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after purchasing an additional 569,003 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Flagstar Bank, National Association in the 2nd quarter worth approximately $8,480,000. Polar Asset Management Partners Inc. grew its stake in shares of Flagstar Bank, National Association by 36.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock worth $21,420,000 after purchasing an additional 437,939 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Flagstar Bank, National Association by 106.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock worth $8,049,000 after purchasing an additional 315,691 shares during the period. 67.88% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Flagstar Bank, National Association

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Analyst support remains substantial: Cantor Fitzgerald reaffirmed its “overweight” rating with a $16 price target, while UBS maintained a “buy” rating despite reducing its target to $14.50 from $15.50. These targets imply meaningful potential upside from current levels. Cantor Fitzgerald rating UBS price target update
• Positive Sentiment: Other analysts still see value: Barclays, Truist Financial and TD Cowen retained constructive ratings, although each lowered its price target. The continued “overweight” or “buy” recommendations suggest analysts view the selloff as excessive if Flagstar can stabilize its loan portfolio. Barclays rating Truist Financial rating TD Cowen rating
• Neutral Sentiment: Credit rating was affirmed, but with caution: Fitch affirmed Flagstar’s “BB+” rating while lowering its outlook, citing a delayed recovery. The affirmation limits an immediate downgrade concern, but the weaker outlook signals continued pressure on profitability and asset quality. Fitch rating outlook
• Negative Sentiment: Real-estate credit concerns are the main overhang: Management linked a $12.9 billion rent-regulated apartment loan book to frozen rents and rising capitalization rates. Investors are concerned these conditions could increase loan losses, reduce collateral values and delay recovery; a shareholder investigation has also been announced. Flagstar investigation notice
• Negative Sentiment: Target reductions reflect lower confidence: RBC moved to $12 with a “sector perform” rating, while JPMorgan cut its target to $11.50 and adopted a “neutral” view. The broad downward revisions reinforce concerns that earnings recovery will take longer than previously expected. RBC price target update

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.