Royal Bank Of Canada Cuts Flagstar Bank, National Association (NYSE:FLG) Price Target to $15.00

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by investment analysts at Royal Bank Of Canada from $16.00 to $15.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 8.54% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Flagstar Bank, National Association from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. UBS Group started coverage on shares of Flagstar Bank, National Association in a research report on Tuesday, July 7th. They set a “buy” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Flagstar Bank, National Association from $15.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. DA Davidson upped their target price on shares of Flagstar Bank, National Association from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Cantor Fitzgerald increased their target price on Flagstar Bank, National Association from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.88.

Flagstar Bank, National Association Price Performance

NYSE FLG traded down $0.03 during trading on Monday, reaching $13.82. The company’s stock had a trading volume of 571,606 shares, compared to its average volume of 5,009,939. The firm has a fifty day moving average of $14.51 and a 200 day moving average of $13.81. Flagstar Bank, National Association has a one year low of $10.57 and a one year high of $15.44. The stock has a market capitalization of $5.76 billion, a PE ratio of 460.67 and a beta of 1.01. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.97 and a quick ratio of 0.97.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings results on Friday, July 24th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Flagstar Bank, National Association had a net margin of 1.08% and a return on equity of 0.98%. The business had revenue of $512.00 million for the quarter, compared to the consensus estimate of $540.87 million. During the same quarter last year, the business posted ($0.14) EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that Flagstar Bank, National Association will post 0.43 EPS for the current fiscal year.

Flagstar Bank, National Association announced that its board has authorized a share repurchase plan on Friday, July 24th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of large investors have recently bought and sold shares of FLG. Mirador Capital Partners LP grew its holdings in shares of Flagstar Bank, National Association by 1.8% in the second quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,571 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Flagstar Bank, National Association in the first quarter worth about $172,000. Amundi grew its stake in shares of Flagstar Bank, National Association by 93.9% in the first quarter. Amundi now owns 19,716 shares of the company’s stock worth $260,000 after purchasing an additional 9,550 shares during the last quarter. California State Teachers Retirement System increased its holdings in Flagstar Bank, National Association by 26.2% during the 1st quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock valued at $4,905,000 after purchasing an additional 77,292 shares during the period. Finally, Empowered Funds LLC raised its position in Flagstar Bank, National Association by 4.0% during the 1st quarter. Empowered Funds LLC now owns 29,313 shares of the company’s stock valued at $386,000 after purchasing an additional 1,117 shares during the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Flagstar Bank, National Association Company Profile

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.