Flagstar Bank, National Association (NYSE:FLG) Stock Rating Reaffirmed as Overweight by Cantor Fitzgerald

Flagstar Bank, National Association (NYSE:FLG)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They currently have a $16.00 price target on the stock. Cantor Fitzgerald‘s target price suggests a potential upside of 56.53% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. Raymond James Financial started coverage on shares of Flagstar Bank, National Association in a research report on Wednesday, September 2nd. They set a “market perform” rating on the stock. Wall Street Zen cut shares of Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. JPMorgan Chase & Co. cut their price target on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating on the stock in a report on Monday. DA Davidson reaffirmed a “buy” rating and issued a $17.00 price target on shares of Flagstar Bank, National Association in a report on Monday, July 27th. Finally, Royal Bank Of Canada cut their price target on shares of Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Flagstar Bank, National Association has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Flagstar Bank, National Association Stock Up 0.0%

Shares of NYSE FLG traded up $0.00 during trading on Tuesday, reaching $10.22. 973,630 shares of the stock were exchanged, compared to its average volume of 5,095,400. The business’s 50-day moving average price is $12.46 and its 200 day moving average price is $13.49. Flagstar Bank, National Association has a twelve month low of $10.10 and a twelve month high of $15.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 68.05 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last posted its earnings results on Friday, October 23rd. The company reported $0.01 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 firm had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, equities analysts forecast that Flagstar Bank, National Association will post 0.28 EPS for the current fiscal year.

Flagstar Bank, National Association declared that its Board of Directors has initiated a share buyback plan on Friday, July 24th that authorizes the company to repurchase $250 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of institutional investors and hedge funds have recently bought and sold shares of FLG. Engineers Gate Manager LP acquired a new stake in Flagstar Bank, National Association in the 2nd quarter valued at about $8,480,000. California State Teachers Retirement System lifted its holdings in Flagstar Bank, National Association by 26.2% in the 1st quarter. California State Teachers Retirement System now owns 372,461 shares of the company’s stock valued at $4,905,000 after acquiring an additional 77,292 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Flagstar Bank, National Association by 106.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 611,191 shares of the company’s stock valued at $8,049,000 after acquiring an additional 315,691 shares during the last quarter. Polar Asset Management Partners Inc. lifted its holdings in Flagstar Bank, National Association by 36.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after acquiring an additional 437,939 shares during the last quarter. Finally, Cannell & Spears LLC acquired a new stake in Flagstar Bank, National Association in the 1st quarter valued at about $1,788,000. Institutional investors own 67.88% of the company’s stock.

Key Flagstar Bank, National Association News

Here are the key news stories impacting Flagstar Bank, National Association this week:

• Positive Sentiment: Cantor Fitzgerald reaffirmed its “overweight” rating and maintained a $16 price target, implying substantial upside from current levels. This offers some support for the shares and suggests the firm views the recent selloff as excessive. Cantor Fitzgerald rating information

About Flagstar Bank, National Association

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.