Flagstar Bank, National Association (NYSE:FLG) Reaches New 1-Year High on Analyst Upgrade

Flagstar Bank, National Association (NYSE:FLG)’s stock price reached a new 52-week high on Thursday after Cantor Fitzgerald raised their price target on the stock from $16.00 to $17.00. Cantor Fitzgerald currently has an overweight rating on the stock. Flagstar Bank, National Association traded as high as $15.44 and last traded at $15.3810, with a volume of 834072 shares traded. The stock had previously closed at $15.01.

FLG has been the topic of a number of other reports. JPMorgan Chase & Co. raised their price objective on 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. Citigroup boosted their target price on Flagstar Bank, National Association from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Truist Financial upgraded Flagstar Bank, National Association from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.50 to $17.00 in a research report on Tuesday, April 7th. Wall Street Zen cut Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flagstar Bank, National Association in a research report on Tuesday, April 21st. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.96.

Institutional Investors Weigh In On Flagstar Bank, National Association

Several hedge funds have recently bought and sold shares of the business. DV Equities LLC purchased a new stake in Flagstar Bank, National Association in the fourth quarter worth about $25,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Flagstar Bank, National Association during the fourth quarter valued at approximately $34,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Flagstar Bank, National Association during the fourth quarter valued at approximately $34,000. Advisory Services Network LLC bought a new stake in shares of Flagstar Bank, National Association in the 3rd quarter worth approximately $35,000. Finally, Clayton Financial Group LLC purchased a new stake in shares of Flagstar Bank, National Association in the 4th quarter worth approximately $42,000. Institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association Price Performance

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 company has a market cap of $6.40 billion, a PE ratio of -69.84 and a beta of 1.01. The firm has a 50 day moving average of $14.39 and a two-hundred day moving average of $13.70.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Friday, April 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Flagstar Bank, National Association had a negative return on equity of 0.11% and a negative net margin of 1.22%.The business had revenue of $507.00 million during the quarter, compared to analysts’ expectations of $556.74 million. During the same quarter in the previous year, the business earned ($0.26) earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Sunday, June 7th were paid a $0.01 dividend. 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 presently -18.18%.

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.