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

Flagstar Bank, National Association (NYSE:FLG) had its price target lowered by equities research analysts at Barclays from $15.00 to $14.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 35.59% from the stock’s current price.

Several other brokerages have also weighed in on FLG. Morgan Stanley cut 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. Raymond James Financial began 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. Cantor Fitzgerald cut their price target on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Royal Bank Of Canada reduced their price target on Flagstar Bank, National Association from $15.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Flagstar Bank, National Association from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Ten 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.com, Flagstar Bank, National Association currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

Flagstar Bank, National Association Trading Down 0.5%

NYSE:FLG traded down $0.06 on Monday, hitting $10.32. 1,514,683 shares of the stock were exchanged, compared to its average volume of 5,075,715. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. Flagstar Bank, National Association has a 52 week low of $10.30 and a 52 week high of $15.44. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 68.83 and a beta of 1.05. The company’s 50-day moving average price is $12.45 and its 200 day moving average price is $13.66.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $545.12 million. During the same period last year, the business posted ($0.07) EPS. On average, equities research analysts forecast that Flagstar Bank, National Association will post 0.28 earnings per share for the current year.

Flagstar Bank, National Association declared that its board has initiated a share buyback program on Friday, July 24th that permits the company to repurchase $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Flagstar Bank, National Association

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Flagstar Bank, National Association by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after acquiring an additional 569,003 shares during the last quarter. North Reef Capital Management LP bought a new stake in shares of Flagstar Bank, National Association in the first quarter worth $36,744,000. Polar Asset Management Partners Inc. boosted its holdings in Flagstar Bank, National Association by 36.8% during the first 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 last quarter. Principal Financial Group Inc. boosted its holdings in Flagstar Bank, National Association by 3.8% during the first quarter. Principal Financial Group Inc. now owns 673,282 shares of the company’s stock worth $8,867,000 after purchasing an additional 24,659 shares during the last quarter. Finally, Swiss National Bank grew its position in Flagstar Bank, National Association by 0.5% in the first quarter. Swiss National Bank now owns 617,302 shares of the company’s stock valued at $8,130,000 after purchasing an additional 2,800 shares in the last quarter. 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.