Flagstar Bank, National Association (NYSE:FLG) Stock Keeps Overweight Rating at Cantor Fitzgerald

Flagstar Bank, National Association (NYSE:FLG)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They currently have a $16.00 price target on the stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 58.02% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Barclays lowered their target price on Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley lowered their target price on Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, September 28th. JPMorgan Chase & Co. lowered their target price on Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating for the company in a report on Monday. Royal Bank Of Canada lowered their target price on Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Monday. Finally, Raymond James Financial started coverage on Flagstar Bank, National Association in a report on Wednesday, September 2nd. They issued a “market perform” rating for the company. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Flagstar Bank, National Association presently has an average rating of “Moderate Buy” and an average target price of $15.17.

Flagstar Bank, National Association Trading Down 0.9%

Shares of FLG traded down $0.10 during mid-day trading on Tuesday, reaching $10.13. 6,656,652 shares of the company were exchanged, compared to its average volume of 5,121,289. Flagstar Bank, National Association has a 52 week low of $10.06 and a 52 week high of $15.44. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $4.20 billion, a PE ratio of 67.50 and a beta of 1.05. The business has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $13.49.

Flagstar Bank, National Association (NYSE:FLG) last issued its quarterly earnings data on Friday, October 23rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $530.00 million for the quarter, compared to the consensus estimate of $545.12 million. During the same quarter last year, the business earned ($0.07) earnings per share. On average, analysts predict 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 of Directors has initiated a stock buyback plan on Friday, July 24th that authorizes the company to buy back $250 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Share buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLG. Empowered Funds LLC boosted its holdings 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 acquiring an additional 1,117 shares during the period. State of Michigan Retirement System boosted its holdings in Flagstar Bank, National Association by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 72,095 shares of the company’s stock valued at $949,000 after acquiring an additional 1,400 shares during the period. D.A. Davidson & CO. boosted its holdings in Flagstar Bank, National Association by 0.5% during the 1st quarter. D.A. Davidson & CO. now owns 278,650 shares of the company’s stock valued at $3,670,000 after acquiring an additional 1,400 shares during the period. Mirador Capital Partners LP boosted its holdings in Flagstar Bank, National Association by 1.8% during the 2nd quarter. Mirador Capital Partners LP now owns 89,706 shares of the company’s stock valued at $1,340,000 after acquiring an additional 1,571 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Flagstar Bank, National Association by 114.0% during the 2nd quarter. IFP Advisors Inc now owns 3,013 shares of the company’s stock valued at $45,000 after acquiring an additional 1,605 shares during the period. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association News Roundup

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.