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

Flagstar Bank, National Association (NYSE:FLG)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday, Benzinga reports. They currently have a $16.00 target price on the stock. Cantor Fitzgerald‘s price target suggests a potential upside of 56.34% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Flagstar Bank, National Association from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. Royal Bank Of Canada reduced their price target on shares of Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating for the company in a report on Monday. Wall Street Zen lowered Flagstar Bank, National Association from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. Barclays cut their price target on Flagstar Bank, National Association from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Raymond James Financial initiated coverage on shares of 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.17.

Flagstar Bank, National Association Price Performance

Flagstar Bank, National Association stock opened at $10.23 on Tuesday. Flagstar Bank, National Association has a 52 week low of $10.16 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 fifty day moving average of $12.46 and a 200-day moving average of $13.49. The stock has a market capitalization of $4.25 billion, a P/E ratio of 68.23 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last issued its earnings results on Friday, October 23rd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $530.00 million for the quarter, compared to analyst estimates of $545.12 million. Flagstar Bank, National Association had a return on equity of 1.45% and a net margin of 2.22%. During the same period in the previous year, the firm posted ($0.07) EPS. On average, sell-side 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 of Directors has approved a stock buyback plan on Friday, July 24th that permits the company to repurchase $250 million in shares. This repurchase authorization permits the company to reacquire up to 4.1% of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Flagstar Bank, National Association

A number of hedge funds and other institutional investors have recently bought and sold shares of FLG. Hourglass Capital LLC grew its holdings in shares of Flagstar Bank, National Association by 2.1% in the third quarter. Hourglass Capital LLC now owns 240,100 shares of the company’s stock worth $2,802,000 after purchasing an additional 5,000 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Flagstar Bank, National Association by 18.9% in the 3rd quarter. Inspire Investing LLC now owns 54,308 shares of the company’s stock valued at $634,000 after purchasing an additional 8,620 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Flagstar Bank, National Association by 57.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 46,401 shares of the company’s stock valued at $541,000 after buying an additional 16,996 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Flagstar Bank, National Association by 26.0% during the third quarter. Farther Finance Advisors LLC now owns 21,218 shares of the company’s stock valued at $248,000 after purchasing an additional 4,376 shares in the last quarter. Finally, Core Capital Management & Research inc. purchased a new position in Flagstar Bank, National Association during the second quarter valued at $50,000. Hedge funds and other institutional investors own 67.88% of the company’s stock.

Flagstar Bank, National Association News Summary

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.