Analysts Set Flagstar Bank, National Association (NYSE:FLG) Price Target at $14.32

Flagstar Bank, National Association (NYSE:FLG) has been assigned an average rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $14.3182.

FLG has been the topic of a number of recent research reports. Barclays upped their price objective on Flagstar Bank, National Association from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Truist Financial increased their price target on shares of Flagstar Bank, National Association from $12.00 to $13.50 and gave the company a “hold” rating in a research report on Friday, September 12th. TD Cowen started coverage on shares of Flagstar Bank, National Association in a report on Thursday, September 25th. They issued a “hold” rating and a $14.00 price target on the stock. DA Davidson reiterated a “buy” rating and set a $14.50 price objective on shares of Flagstar Bank, National Association in a research note on Thursday, November 13th. Finally, Morgan Stanley set a $14.00 target price on shares of Flagstar Bank, National Association and gave the company an “underperform” rating in a research report on Monday, September 29th.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $12.29 on Friday. The company has a market capitalization of $5.11 billion, a PE ratio of -12.66, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09. Flagstar Bank, National Association has a 52 week low of $8.56 and a 52 week high of $13.85. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 1.73. The stock’s fifty day moving average is $12.10 and its two-hundred day moving average is $11.91.

Flagstar Bank, National Association (NYSE:FLG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $498.00 million during the quarter. Flagstar Bank, National Association had a negative return on equity of 3.80% and a negative net margin of 7.06%. As a group, analysts expect that Flagstar Bank, National Association will post -0.31 earnings per share for the current year.

Flagstar Bank, National Association Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Sunday, December 7th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, December 5th. Flagstar Bank, National Association’s dividend payout ratio is currently -4.12%.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLG. Alliancebernstein L.P. lifted its stake in Flagstar Bank, National Association by 1,130.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,635,962 shares of the company’s stock valued at $70,341,000 after acquiring an additional 6,096,512 shares during the period. Norges Bank purchased a new position in shares of Flagstar Bank, National Association during the second quarter worth $31,502,000. JPMorgan Chase & Co. raised its holdings in shares of Flagstar Bank, National Association by 310.8% during the third quarter. JPMorgan Chase & Co. now owns 3,825,713 shares of the company’s stock worth $44,187,000 after purchasing an additional 2,894,424 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Flagstar Bank, National Association during the second quarter valued at $23,059,000. Finally, Cerity Partners LLC purchased a new stake in Flagstar Bank, National Association in the second quarter valued at $19,957,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.