Flagstar Bank, National Association (NYSE:FLG) Price Target Cut to $13.00 by Analysts at Barclays

Flagstar Bank, National Association (NYSE:FLG) had its price objective cut by research analysts at Barclays from $14.00 to $13.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 22.42% from the company’s current price.

Several other equities analysts have also issued reports on FLG. Royal Bank Of Canada dropped their price target on Flagstar Bank, National Association from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Monday, October 26th. Citigroup lowered their price objective on shares of Flagstar Bank, National Association from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. UBS Group dropped their target price on shares of Flagstar Bank, National Association from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, October 27th. TD Cowen cut their target price on shares of Flagstar Bank, National Association from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Flagstar Bank, National Association from $14.00 to $11.50 and set a “neutral” rating for the company in a report on Monday, October 26th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.46.

Flagstar Bank, National Association Stock Performance

Shares of Flagstar Bank, National Association stock opened at $10.62 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.53. The business has a 50-day moving average price of $12.05 and a two-hundred day moving average price of $13.42. Flagstar Bank, National Association has a 1-year low of $9.93 and a 1-year high of $15.44. The company has a market cap of $4.41 billion, a P/E ratio of 70.54 and a beta of 1.05.

Flagstar Bank, National Association (NYSE:FLG) last announced 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). The business had revenue of $530.00 million during the quarter, compared to analyst estimates of $545.12 million. Flagstar Bank, National Association had a net margin of 2.22% and a return on equity of 1.45%. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, analysts anticipate that Flagstar Bank, National Association will post 0.15 EPS for the current 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.

Insider Activity at Flagstar Bank, National Association

In other news, Director Alan L. Frank acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was purchased at an average price of $10.14 per share, for a total transaction of $101,400.00. Following the purchase, the director owned 76,463 shares in the company, valued at approximately $775,334.82. This represents a 15.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flagstar Bank, National Association

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Flagstar Bank, National Association by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,731,631 shares of the company’s stock worth $88,645,000 after purchasing an additional 569,003 shares during the last quarter. North Reef Capital Management LP purchased a new stake in Flagstar Bank, National Association in the first quarter valued at approximately $36,744,000. Polar Asset Management Partners Inc. lifted its position in Flagstar Bank, National Association by 36.8% during the first quarter. Polar Asset Management Partners Inc. now owns 1,626,388 shares of the company’s stock valued at $21,420,000 after purchasing an additional 437,939 shares during the last quarter. Principal Financial Group Inc. lifted its position in Flagstar Bank, National Association by 3.8% during the first quarter. Principal Financial Group Inc. now owns 673,282 shares of the company’s stock valued at $8,867,000 after purchasing an additional 24,659 shares during the last quarter. Finally, Swiss National Bank lifted its position in Flagstar Bank, National Association by 0.5% during the first quarter. Swiss National Bank now owns 617,302 shares of the company’s stock valued at $8,130,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 67.88% of the company’s stock.

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.