Flagstar Bank, National Association (NYSE:FLG) Price Target Cut to $14.00 by Analysts at Citigroup

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by stock analysts at Citigroup from $18.00 to $14.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup‘s target price suggests a potential upside of 38.27% from the company’s current price.

Several other equities analysts have also weighed in on the company. TD Cowen cut their price target on Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Monday. Raymond James Financial assumed coverage on Flagstar Bank, National Association in a report on Wednesday, September 2nd. They issued a “market perform” rating for the company. Morgan Stanley lowered 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 report on Monday, September 28th. Weiss Ratings raised Flagstar Bank, National Association from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 price objective on shares of Flagstar Bank, National Association in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Flagstar Bank, National Association Price Performance

Shares of Flagstar Bank, National Association stock traded down $0.10 during trading hours 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. The stock’s 50 day moving average is $12.46 and its 200 day moving average is $13.49. The firm has a market capitalization of $4.20 billion, a PE ratio of 67.50 and a beta of 1.05. Flagstar Bank, National Association has a twelve month low of $10.06 and a twelve 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.

Flagstar Bank, National Association (NYSE:FLG) last posted 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 return on equity of 1.45% and a net margin of 2.22%. The firm had revenue of $530.00 million for the quarter, compared to analysts’ expectations of $545.12 million. During the same period in the previous year, the company earned ($0.07) earnings per share. Equities analysts expect 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 has authorized a share buyback program on Friday, July 24th that authorizes the company to repurchase $250 million in shares. This buyback authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock valued at $88,645,000 after purchasing an additional 569,003 shares during the period. North Reef Capital Management LP purchased a new stake in shares of Flagstar Bank, National Association during the first quarter worth about $36,744,000. Polar Asset Management Partners Inc. raised its position 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 last quarter. Principal Financial Group Inc. raised its position in shares of Flagstar Bank, National Association by 3.8% during the 1st 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 raised its position in shares of Flagstar Bank, National Association by 0.5% during the 1st quarter. Swiss National Bank now owns 617,302 shares of the company’s stock worth $8,130,000 after purchasing an additional 2,800 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

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.